Boba Bhai Secures Seed Funding to Fuel Growth of Bubble Tea and K-Pop Burger Chain

Boba Bhai
Preeti Bali / 2:03 pm / April 24, 2024

Boba Bhai, a rising quick-service restaurant (QSR) chain specializing in bubble tea and unique food items, has successfully secured Rs 12.5 crore in its inaugural seed funding round. The round was co-led by Titan Capital and Global Growth Capital UK, attracting participation from a diverse group of investors.

Investor Confidence Drives Growth Strategy

This impressive funding round highlights investor confidence in Boba Bhai’s innovative concept. The capital injection will be strategically allocated towards team expansion, product line diversification, and nationwide growth initiatives, as per a company press release.

Early Traction and Ambitious Goals

Founded in October 2023, Boba Bhai has experienced remarkable growth within a short timeframe. The company boasts over 50,000 monthly orders processed and a footprint encompassing 25 outlets across seven major Indian cities: Delhi, Gurugram, Udaipur, Bengaluru, Mumbai, Hyderabad, and Chennai. Notably, the average order value exceeds Rs 400, indicating strong customer reception.

Visionary Leadership and Global Aspirations

Under the leadership of Dhruv Kohli, Boba Bhai is carving a niche in the QSR market with its unique combination of bubble tea and K-Pop-inspired burgers. The company aspires to expand its footprint globally, establishing itself as a prominent player in the bubble tea and K-Pop burger space.

Financial Performance and Future Projections

The Bengaluru-based company currently boasts an annual revenue run rate (ARR) of Rs 24 crore and a monthly revenue run rate (MRR) of Rs 2 crore. Projecting continued growth, Boba Bhai aims to achieve an ARR of Rs 60-65 crore by December 2024.

Competitive Landscape

Boba Bhai’s success story follows the recent funding secured by Wow! Momo, a Kolkata-based QSR chain specializing in momos, which raised Rs 70 crore ($8.3 million) earlier in April 2024. This funding trend underscores the growing investor interest in the Indian QSR market, particularly within innovative sub-segments like bubble tea and K-Pop cuisine.

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