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

Quick service restaurant (QSR) chain Boba Bhai has raised $4.3 million (Rs 40 crore) from existing investors 8i Ventures, Titan Capital Winners Fund, and Global Growth Capital. The round also saw participation from new investors Big Capital and some angel investors.

The company plans to use the capital to accelerate store expansion, strengthen leadership, and launch new products.

“Young consumers are increasingly seeking bold, global flavours, but they stay loyal only when the experience delivers every time. Korean street food fits naturally into this shift, and we see strong headroom to build this category at scale in India,” said Dhruv Kohli, founder, Boba Bhai.


Founded in 2023, Boba Bhai specialises in selling bubble tea and Korean-style burgers and is set to roll out its Korean-inspired ice cream range across the country. The brand operates QSR physical outlets, provides food delivery services and has created a few stock-keeping units (SKUs) for quick commerce too.

“We've been growing by about 40-50% month-on-month on quick commerce. Now we want to be on all platforms and enter more cities,” he said, adding that the company is on track to cross Rs 100 crore ARR in the next two months.

In FY24, Boba Bhai reported a revenue of Rs 5 crore, which increased to Rs 30 crore in FY25, according to the company. The brand currently has 90 outlets across the country, with about 55 outlets offering seating options and the rest acting as delivery hubs.

“These stores are anywhere between 250-400 sq ft in size and with 8-10 people seating options. Since these require less capital investment, about 80 out of 90 outlets are profitable at a store level for us,” Kohli told ET.

Commenting on the funding, Vishwanath V, general partner, 8i Ventures, said, “Boba Bhai has demonstrated incredible growth and a repeatable playbook that has made it the #1 bubble tea brand in the country.”