PE-VC Fund Investments
Korean delicacies-focused QSR chain Boba Bhai attracts $4.3 M
Bengaluru-based quick service restaurant (QSR) brand Boba Bhai has attracted USD 4.4 million (INR 40.62 crore) in fresh capital in a funding round co-led by existing backers 8i Ventures, Titan Capital Winners Fund and Global Growth Capital. BIG Capital, CRED’s Kunal Shah, Tracxn cofounder Abhishek Goyal and ex-Flipkart CTO Mekin Maheshwari also participated in the funding round. The round is claimed to have been raised at a valuation 5X higher than its previous funding round of INR 30 crore (around USD 3.4 million) in January last year.Founded in 2023 by Dhruv Kohli, Boba Bhai is built around Korean delicacies like bubble tea, fusion burgers, ice cream, and fries. It primarily sells its products via its stores and foodtech platforms Zomato and Swiggy. The fresh capital would be used to expand its store count in Tier I cities while also entering Tier II markets and launching new products tailored for quick-commerce platforms.The firm claims that its FY25 net revenue surged 500% to INR 30 crore in FY25 from INR 5 crore in the previous fiscal year. The startup loss for the fiscal year doubled YoY to INR 4 crore.
Between Feb 2024 and Dec 2024, Boba Bhai had attracted about USD 5 M from Warmup Ventures, 8i Ventures, DeVC India, Titan Capital and others.For FY24, Boba Bhai had reported about INR 5 Cr in Operating Income and about INR 2 Cr in Net Loss.
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