• Boba Bhai, a QSR specialising in bubble tea, has secured Rs. 12.5 Crore in the Seed Funding Round.

  • The Round was led by Titan Capital, Arjun Vaidya, Warm-up Ventures etc.

  • The company has 25 stores in several cities of India.

Boba Bhai, a prominent quick-service restaurant (QSR) specializing in bubble tea and assorted food items, has secured Rs 12.5 crore in its seed funding round. The investment, led by Titan Capital and Global Growth Capital UK, marks a significant milestone for the burgeoning brand.

Joining the investment fray were notable figures such as Arjun Vaidya, Marsshot VC (backed by RazorPay founders), DEVC, Warm-up Ventures, Asit Oberoi, Shiva Singh Sangwan’s 1947 Rise Fund, Peercheque, Varun Alagh, Mandeep Sodhi, Prabhraj (from Simba Beer), FinFirst, Neha Patil, Abhinav Sinha (formerly of Oyo), alongside several other distinguished angel investors.

According to a company statement, Boba Bhai will channel the raised capital towards various initiatives, including recruitment drives, diversification of product offerings, and nationwide expansion efforts.

This round marks Boba Bhai’s inaugural institutional fundraising endeavour since its establishment in October 2023. Remarkably, within a mere six months, the startup has processed over 50,000 monthly orders, boasting a presence across 25 outlets spanning seven key cities: Delhi, Gurugram, Udaipur, Bengaluru, Mumbai, Hyderabad, and Chennai, with an average order value of Rs 400.

Founded by Dhruv Kohli, Boba Bhai envisions establishing itself as a leading QSR chain, blending the allure of bubble tea with innovative culinary creations like K-Pop burgers. It has aspirations for global expansion.

Based in Bengaluru, the company currently enjoys an annual revenue run rate (ARR) of Rs 24 crore and a monthly revenue run rate (MRR) of Rs 2 crore. By December 2024, it aims to elevate its revenue figures to Rs 60-65 crore.

In a similar vein, Wow! Momo, a Kolkata-based QSR chain, recently secured Rs 70 crore ($8.3 million) in funding from Z3 Partners earlier this month, underscoring the dynamic growth trajectory witnessed in the QSR sector.