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

Entrackr

Entrackr · 6m ago

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.

Related News

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

Entrackr

Entrackr · 1y ago

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.

Bubble tea maker Guming's IPO makes Founder Wang a billionaire

Inshorts · 5m ago

Bubble tea maker Guming's IPO makes Founder Wang a billionaire

Chinese bubble tea company Guming Holdings' 38-year-old Founder Wang Yun'an has become a billionaire after the company's IPO. Guming Holdings raised $232 million in a Hong Kong IPO, which increased the net worth of its Founder to $1.2 billion, Bloomberg reported. Guming Holdings sells boba tea under the 'Good me' brand name and targets smaller cities and townships.

Hunger games: Investors at the table with appetite for food startups

Economic Times

Economic Times · 1y ago

Hunger games: Investors at the table with appetite for food startups

Homegrown food and beverage brands in India are attracting funding from early-stage institutional investors and high net-worth individuals. Investors see potential in these specialized products and the startups' expansion into non-metro markets. Examples include Pizza Wings, which received $4 million from Gruhas venture fund and angel investors. Bubble tea startup, Boba Bhai, is in talks with Titan Capital. The interest in these brands can be attributed to the gap in non-metro food retail, changing consumer preferences, and the lack of stickiness among global brands.

Boba Bhai, Quash secure early-stage funding

VCCircle

VCCircle · 6m ago

Boba Bhai, Quash secure early-stage funding

Boba Bhai, a quick service restaurant startup, raised $3.5 million in Series A funding led by 8i Ventures, with participation from other investors. The funds will expand its presence, scale operations, and introduce new offerings. Founded in 2023 by Dhruv Kohli, Boba Bhai operates 42 outlets across nine Indian cities. Separately, AI-powered software testing platform Quash secured $635,000 in pre-seed funding, led by Arali Ventures, to build AI testing agents and expand internationally.

GoOAT raises pre-seed round led by D2C Insider Super Angels

Entrackr

Entrackr · 4m ago

GoOAT raises pre-seed round led by D2C Insider Super Angels

GoOAT raises pre-seed round led by D2C Insider Super Angels D2C nutrition brand GoOAT has raised a pre-seed funding round led by D2C Insider Super Angels for an undisclosed amount. The round also saw the participation of investors including Deep Bajaj (founder of Sirona), Mohit Bajaj (co-founder of Sirona), Dhruv Kohli (founder of Boba Bhai), Shiv Dhawan (founder of First Coffee), Akash Gupta (founder of Zpyy Electric), Vikram Ahuja (founder of HomeGuru), Gagan Malhotra (lead at Swiggy Dineout), and Sanchit Garg (operation manager at Amazon). The proceeds will be used to expand GoOAT's product range and accelerate research and development tailored specifically for the Indian market. Founded by Yash Kalra, GoOAT provides breakfast and snacking meal options with its innovative, ready-in-30-second formula. It caters to the demand for nutritious and delicious options among health-conscious consumers.

Plane, three others secure early-stage funding

VCCircle

VCCircle · 1y ago

Plane, three others secure early-stage funding

Plane, an open-source project management platform, has raised $4 million in seed funding. The software start-up offers collaboration tools for teams and aims to support growing businesses. Quick service restaurant Boba Bhai has secured $1.5 million in a pre-Series A funding round, which will be used for expansion and hiring. FMCG brand Adukale has raised $1.3 million to increase its outlets and distribution network. Karban Envirotech, a manufacturer of energy-efficient electronics goods, has raised $1.07 million in seed funding. The funds will be used for talent acquisition and product development.

Premium tea brand Freshleaf raises seed round

Entrackr

Entrackr · 1y ago

Premium tea brand Freshleaf has raised Rs 1 crore in its seed round led by Inflection Point Ventures. The proceeds will be used to expand marketing efforts, increase production capacity, and enhance research and development for new products, the company said in a press release. Led by Balkirat Singh and Muneet Arora, Freshleaf strives to deliver premium quality tea at an affordable price starting from Rs 130. Since its inception in 2022, it has built a strong offline presence, now reaching over 550 stores across 40 cities in India. Through strategic marketing initiatives, such as interactive tastings, the company has enhanced its brand recognition and engagement with its customer base. It is now venturing into modern retail and quick commerce while extending its reach into the UAE market, aiming to enhance accessibility and market presence. In the premium tea brand, Freshleaf competes with Vahdam Teas, Teamonk, Young Mountain Tea. Interestingly, Teamonk is also backed by Inflection Point Ventures.

Verlinvest-backed Blue Tokai acquires bubble tea chain

VCCircle

VCCircle · 8m ago

Verlinvest-backed Blue Tokai acquires bubble tea chain

Blue Tokai Coffee Roaster, a premium specialty coffee brand backed by Verlinvest, has recently acquired a bubble tea chain. This move aims to expand the company's product offerings. Blue Tokai raised $35 million in funding just a couple of months ago.

Fashion jewellery brand Kushal’s raises Rs 284 Cr from Lighthouse

Inshorts · 1y ago

Kushal's, a fashion and silver jewellery brand, has raised Rs 284 crore in a Series B funding round from the mid-market private equity firm Lighthouse. The capital infusion also includes a secondary transaction, giving a partial exit to Kushal's first institutional investor, India SME Investments, which invested in the brand in 2019.

How Boba Bhai Is Setting The Stage For Bubble Tea Revolution In India

Inc42 · 1y ago

How Boba Bhai Is Setting The Stage For Bubble Tea Revolution In India

Indian company Chai Point, with 27 outlets in seven cities and a revenue run rate of INR 2 Cr per month, is tapping into the growing demand for bubble tea in India. Bubble tea, a popular Taiwanese tea-based beverage, is expected to become a $6.17 Bn market by 2033. Chai Point initially started as a hobby project, but quickly gained popularity, attracting 40,000 to 60,000 customers per month. The company primarily sells its products through online platforms like Swiggy and Zomato, but is also expanding its offline presence. The trend of bubble tea in India is evident on social media platforms like Instagram.

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