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QSR chain Boba Bhai raises $4.3 Mn

EntrackrEntrackr · 1d ago
QSR chain Boba Bhai raises $4.3 Mn
Medial

Quick service restaurant (QSR) chain Boba Bhai has secured $4.3 million (approx. Rs 40 crore) in a funding round from its existing investors 8i Ventures, Titan Capital, Winners Fund, and Global Growth Capital, along with participation from Big Capital and other angel investors. The Bengaluru-based startup had earlier raised Rs 30 crore (around $3.4 million) in its Series A round led by 8i Ventures in January last year and Rs 12.5 crore in a seed funding round led by Titan Capital and Global Growth Capital UK. The proceeds will be deployed to accelerate store expansion, strengthen leadership, and launch new products, Boba Bhai said in a press release. Launched in 2023 by Dhruv Kohli, Boba Bhai specializes in Korean-inspired fusion cuisine and bubble tea. The company operates multiple outlets and cloud kitchens and aims to scale to 300 stores by 2026, offering items like gochujang burgers, K-pop-inspired dishes, and packaged beverages. Boba Bhai offers more than 45 bubble tea flavors, Korean-style burgers, Korean fried chicken, rice/noodle bowls, and fries. It operates with a mix of offline stores and high-volume delivery through Swiggy, Zomato, and Blinkit. The brand said it is growing by about 40–50% month-on-month on quick commerce and intends to be present on all platforms while entering more cities. It aims to cross Rs 100 crore ARR in the next two months. According to Boba Bhai, it reported revenue of Rs 5 crore in FY24, which increased to Rs 30 crore in FY25. The brand claims to currently have 90 outlets across the country, with about 55 outlets offering seating options and the rest acting as delivery hubs.

Bubble tea brand Boba Bhai raises Rs 30 Cr in Series A round

EntrackrEntrackr · 1y ago
Bubble tea brand Boba Bhai raises Rs 30 Cr in Series A round
Medial

Bubble tea brand Boba Bhai, a quick-service restaurant (QSR) brand focused on bubble tea and other food items, has raised Rs 30 crore (around $3.4 Mn) in its Series A round led by 8i Ventures. The round also saw participation from existing backers, including Titan Capital Winners Fund, Global Growth Capital, and DEVC among others. Earlier, the startup raised Rs 12.5 crore in its seed round led by Titan Capital and Global Growth Capital UK. The proceeds will be used to expand to new cities, scale operations, and introduce innovative menu offerings. Founded by Dhruv Kohli, Boba Bhai currently has 42 outlets in nine cities and plans to open over 150 stores by the end of the year. Approximately 70% of orders are generated through its website and platforms like Zomato, Swiggy, and ONDC.

Bubble tea brand Boba Bhai raises Rs 12.5 Cr in seed round

EntrackrEntrackr · 1y ago
Bubble tea brand Boba Bhai raises Rs 12.5 Cr in seed round
Medial

Boba Bhai,a quick-service restaurant (QSR) brand focused on bubble tea and other food items, has raised Rs 12.5 crore in its seed round led by Titan Capital and Global Growth Capital UK. The round also saw participation from Arjun Vaidya, Marsshot VC (RazorPay founders fund), DEVC, Warm up Ventures, Asit Oberoi, 1947 Rise Fund by Shiva Singh Sangwan, Peercheque, Varun Alagh, Mandeep Sodhi, Prabhraj (Simba Beer), FinFirst, Neha Patil, Abhinav Sinha from Oyo and other high profile angel investors. The proceeds will be used across hiring, product line expansion and presence across India, the company said in a press release. This is the first institutional fundraising round since its inception in October 2023. In just six months, the startup claims to have processed over 50,000 monthly orders while expanding its footprint to 25 outlets across seven cities – Delhi, Gurugram, Udaipur, Bengaluru, Mumbai, Hyderabad, and Chennai with an average order volume of Rs 400. Founded by Dhruv Kohli, Boba Bhai is building bubble tea and K-Pop burgers QSR chain to expand its presence globally. The Bengaluru-based firm makes 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 reach Rs 60-65 crore. Earlier this month, Kolkata-based QSR chain Wow! Momo secured Rs 70 crore ($8.3 million) in funding from Z3 Partners.

Koriken raises seed round led by Rukam Capital

EntrackrEntrackr · 3m ago
Koriken raises seed round led by Rukam Capital
Medial

Korean quick-service restaurant (QSR) startup Koriken has raised Rs 4 crore in a seed funding round led by Rukam Capital, a venture capital firm that backs early-stage consumer brands. The fresh funds will be used to accelerate the next phase of growth while bringing authentic Korean flavours closer to Indian consumers, Koriken said in a press release. Launched in 2022 by Hasan Patel, Koriken offers an authentic taste of Korea through its range of signature dishes, including Korean fried chicken, ramen, mandu, and more. The brand combines authentic flavours with a modern QSR approach that is fast, consistent, and accessible. Koriken aims to make Korean cuisine a household favourite in India, blending authentic flavours, rich aromas, and a modern dining experience inspired by Korea. The company focuses on consistency, affordability, and innovation while staying true to the essence of Korean food culture. Food delivery platforms such as Swiggy and Zomato have reported nearly a 50% year-on-year increase in orders for Korean food, underscoring the country’s expanding appetite for global flavours. The trend is being led by Gen Z consumers, who now account for over a quarter of all Korean food orders. Korean restaurants and QSRs have also seen a 59% surge in demand, with popularity spreading beyond major metros to tier-2 cities such as Surat, Thiruvananthapuram, Vadodara, Mysuru, and Mangaluru. Koriken plans to expand its flagship and high-street outlets across cities, drive product innovation, and enhance brand visibility. It will also strengthen operational efficiency, including scaling kitchen systems for speed, consistency, and delivery, while blending authentic Korean flavours with the richness of Indian culinary traditions. The expansion will be supported through talent development and the growth of its core team.

Cool beans! cafes are having a field day this summer

Economic TimesEconomic Times · 1y ago
Cool beans! cafes are having a field day this summer
Medial

Cafes in northern India are seeing an increase in footfall and sales due to the scorching summer heat. Chains like Third Wave Coffee, Chaayos, AbCoffee, and Boba Bhai are benefiting from the demand for iced beverages and summer-specific menu items. These cafes are also popular among remote workers and individuals seeking refuge from the heat. This growth in the cafe business stands in stark contrast to the decline in sales and footfall reported by restaurants, pubs, and bars in the region. Specialty coffee and tea chains are particularly attracting venture investor interest as they expand their operations. Even Starbucks, in partnership with Tata Consumer Products, has introduced a summer-specific menu. Overall, cafes are capitalizing on the summer season and evolving consumer preferences to drive growth.

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