Funding round led by existing investors values the company at five times its Series A valuation; brand eyes tier 1 and 2 expansion
Bubble tea and Korean street food brand Boba Bhai has secured Rs 40 crore in a fresh funding round led by existing backers 8i Ventures, Titan Capital Winners Fund, and Global Growth Capital, with participation from BIG Capital and several angel investors, according to a media release issued on Wednesday.
The latest funding values the company at nearly five times the valuation it achieved during its Series A round, raised last year, signalling strong momentum in its business over the past year.
Boba Bhai said the new capital will be deployed to scale its store network across Tier-1 cities, expand into select tier 2 markets, strengthen its leadership team, and further develop its Korean-inspired food and beverage portfolio. The company is also preparing to introduce new products designed specifically for quick-commerce platforms.
Founded by Dhruv Kohli, the brand has expanded rapidly since launching two years ago. Its revenue rose sixfold from Rs 5 crore in FY24 to Rs 30 crore in FY25, and the company expects to surpass a Rs 100 crore annualised revenue run rate (ARR) within the next two months.
“Over the last two years, we have focused on building systems that allow us to scale with consistency from product quality and supply-chain discipline to store-level execution,” Kohli said. “This capital will help us deepen our presence in tier 1 cities while expanding into tier 2markets in a structured way.”
The company follows an omnichannel approach, operating through physical retail outlets, food delivery platforms, and partnerships with quick-commerce services. Its offerings largely target younger consumers drawn to international street food flavours.
Looking ahead, Boba Bhai plans to build a nationwide presence with 1,000 outlets over the next five years as it expands across India.
