Boba Bhai, a QSR chain, receives $4.3 million from Global Growth Capital, Titan Capital Winners Fund, and 8i Ventures

Quick service restaurant (QSR) chain Boba Bhai has raised $4.3 million (about ₹40 crore) in a funding round from existing investors including 8i Ventures, Titan Capital Winners Fund and Global Growth Capital. The round also saw participation from new investors Big Capital along with several angel investors.

The company said it will use the fresh capital to accelerate its store expansion, strengthen its leadership team and launch new products. Founder Dhruv Kohli said young consumers in India are increasingly looking for bold global flavours but remain loyal only when brands consistently deliver a strong experience. According to him, Korean street food aligns naturally with this shift in consumer preferences and offers strong potential to build a scalable category in India.

Founded in 2023, Boba Bhai focuses on bubble tea and Korean-style burgers and is preparing to launch a Korean-inspired ice cream range nationwide. The brand operates physical QSR outlets, offers food delivery services and has also introduced several stock-keeping units (SKUs) designed for quick commerce platforms.

Kohli said the company has been growing about 40–50 percent month-on-month on quick commerce platforms and now plans to expand its presence across all major platforms while entering more cities. He added that the startup is on track to cross ₹100 crore in annual recurring revenue within the next two months.

In the financial year FY24, Boba Bhai reported revenue of ₹5 crore, which grew to ₹30 crore in FY25, according to the company. The brand currently operates 90 outlets across India, of which around 55 provide seating options while the rest function as delivery-focused hubs.

Kohli said the company’s outlets typically range from 250 to 400 square feet and offer seating for about eight to ten people. Because the stores require relatively low capital investment, around 80 out of the 90 outlets are already profitable at the store level.

Commenting on the funding round, Vishwanath V said Boba Bhai has demonstrated rapid growth and built a repeatable business model that has helped it become the number one bubble tea brand in the country.