Boba Bhai, a quick-service restaurant (QSR) brand focused on bubble tea and other food items, has raised Rs 12.5 crore in its seed round, led by Titan Capital and Global Growth Capital UK.
A wide range of investors participated in the funding round, including Peercheque, Varun Alagh, Mandeep Sodhi, Prabhraj (Simba Beer), FinFirst, Neha Patil, Abhinav Sinha from Oyo, Arjun Vaidya, Marsshot VC (RazorPay founders fund), Asit Oberoi, 1947 Rise Fund by Shiva Singh Sangwan, Arjun Vaidya, Global Growth Capital UK (Harsh Patel), and other well-known angel investors. The round was headed by Titan Capital and Global Development Capital UK, demonstrating their belief in the company’s potential for development and ambition.
The proceeds will be used for hiring, product line expansion, and presence across India, the company said in a press release.
Harsh Patel, Managing Partner, Global Growth Capital, said “Bubble tea is a very exciting market category globally, and is gaining popularity in India at a rapid pace. In a very short span, Boba Bhai has dominated the India market, and has shown the headroom for long-term growth.”
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Arjun Vaidya, Co-founder of V3 Ventures and founder of Dr. Vaidya’s (acquired), said, “Since the first time I met Dhruv, I was intrigued by Boba Bhai. It perfectly blends the rising K wave with Indian flavours. They have shown exponential growth already and I am excited to see what the future holds.”
This is the first institutional fundraising round since its inception in October 2023. In just six months, the startup claims to have processed over 50,000 monthly orders while expanding its footprint to 25 outlets across seven cities: Delhi, Gurugram, Udaipur, Bengaluru, Mumbai, Hyderabad, and Chennai, with an average order volume of Rs 400.
Founded by Dhruv Kohli, Boba Bhai is building a bubble tea and K-Pop burger QSR chain to expand its presence globally.
