Boba Bhai Secures ₹40 Crore Funding, Plans Rapid Store Expansion

Boba Bhai has raised ₹40 crore in a new funding round led by existing investors 8i Ventures, Titan Capital Winners Fund and Global Growth Capital. New investors including BIG Capital and several angel investors also participated in the round. The funding was raised at five times the valuation of the company’s Series A round held a year ago, reflecting its strong growth over the past 12 months.

The company plans to use the capital to expand its store network across Tier-1 cities and enter select Tier-2 markets. It will also strengthen its leadership and on-ground teams, expand its Korean-inspired food, beverage and packaged snack offerings, and launch new products for quick-commerce platforms. Founded just two years ago, Boba Bhai has grown rapidly. Its revenue increased six-fold from ₹5 crore in FY24 to ₹30 crore in FY25, and the company expects to cross ₹100 crore in annual recurring revenue (ARR) in the next two months.

Commenting on this, Dhruv Kohli, Founder, Boba Bhai said, “Over the last two years, we have focused on building systems that allow us to scale with consistency from product quality and supply-chain discipline to store-level execution. This capital will help us deepen our presence in Tier-1 cities while expanding into Tier-2 markets in a structured way. From what we have seen on the ground, young consumers are increasingly seeking bold, global flavours, but they stay loyal only when the experience delivers every time. Korean street food fits naturally into this shift, and we see strong headroom to build this category at scale in India.”

“Boba Bhai has demonstrated incredible growth and a repeatable playbook that has made it the #1 bubble tea brand in the country. The team’s operational nous & benchmark beating metrics made it an easy decision for us to double down.” said Vishwanath V, General Partner, 8i Ventures.

Shiv Kapoor, Vice President at Titan Capital Winners Fund, said, “We continue to be impressed with the strong execution at Boba Bhai along the multiple axes of product quality, customer loyalty and growing scale. Dhruv has planned a huge lineup of new menu items spanning eatables and beverages inspired by global flavours, and we can’t wait to see them in the hands of Indian consumers soon.”

Adding to this, Harsh Patel, Managing Partner at Global Growth Capital noted, “Dhruv has created a market leader that spans the QSR and FMCG sectors from scratch in just over 2 years. Being able to combine great ideas with a razor-sharp focus on execution is a rare trait and the Boba Bhai team have demonstrated this in spades since we first backed them in 2023,”

Through its omnichannel model including retail outlets, food delivery platforms and quick-commerce partnerships, the company aims to reach 1,000 outlets across India over the next five years.