In the world of food and drinks, bubble tea or Boba has recently become very popular. Originating from Taiwan in the 1980s, Boba tea has gone from being a local favorite to a global sensation. Boba Bhai, a quick-service restaurant (QSR) brand specializing in bubble tea and other food items, recently got a funding of Rs 12.5 crore in a funding round led by Titan Capital and Global Growth Capital UK.
Other investors who participated in the funding round included Arjun Vaidya from V3 Ventures, Marsshot VC by Razorpay founders, DeVC, Warm Up Ventures, Varun Alagh from Mamaearth, and some others.
“We are impressed with Dhruv`s vision and sharp execution with intense clarity in introducing and building ‘bubble tea-based Korean cuisine food brand in India’, starting with Bangalore and now expanding to Delhi-NCR and other cities. The team’s commitment to tailor-make a range of bubble teas to cater to the varied palates and preferences of Indian consumers has helped it gain immense popularity in a short span of time. We are pleased to partner with a brand with a vision to build a large food brand in India with solid taste, demand, and frugal distribution,” said Bipan Shah, Partner, Titan Capital.
Boba Bhai has been able to cross an annual revenue rate of Rs 24 crore with around 50,000 orders every month. The startup aims to reach Rs 100 crore in revenue in the next year.
One of the driving reasons for the platform’s success is its distribution on both online and offline channels, like its website and delivery apps, as well as its physical stores. The startup relies upon about 70% of its orders coming from online platforms like Zomato and Swiggy, while the rest come from people visiting their stores. This blend helps them to reach more customers and stand out in the competitive food market.
Boba Bhai plans to use the funding to expand to more locations, increase its flavor offering by introducing 5 to 6 new flavors, or invest in new technology to serve customers better.
“We are building the brand for today’s youth. They eat what’s trending and want to try new things. I believe foreign cuisines, especially Korean food, are going to have a lot of market in India,” Boba Bhai founder Dhruv Kohli told ET.
Boba Bhai: Revolutionising Boba Industry in India
Boba Bhai is India’s top bubble tea brand, that is loved by tea enthusiasts nationwide. Founded by Dhruv Kohli in 2023, the team at Boba Bhai consists of tea experts and mixologists. From traditional Indian tea blends to international inspirations, the menu offers a wide selection catering to diverse taste preferences.
Boba Bhai prides itself on using the finest, locally sourced ingredients. Each ingredient is chosen in a manner that such every sip of bubble tea delivers an authentic and unforgettable taste experience. The brand also has a strong commitment to sustainability and environmental consciousness, with eco-friendly packaging and responsible business practices at the forefront of its operations.
Dhruv Kohli, founder, Boba Bhai, shared, “The bubble tea market in India is growing at a very rapid pace. We have investors who have backed our rapid and profitable growth plan, and in the coming months, we are also going to announce further backing from existing and new investors, who understand the vision that we have for Boba Bhai’s national growth.”
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