Boba Bhai Raises ₹40Cr, Valuation Jumps 5x as Revenue Eyes ₹100Cr Milestone

Bubble Tea and Korean street food brand Boba Bhai has raised ₹40 crore in a funding round led by existing investors 8i Ventures, Titan Capital’s Winners Fund and Global Growth Capital. The round also saw participation from new investors including BIG Capital and several prominent angel investors.

The company said the funding was raised at nearly five times the valuation of its Series A round completed just a year ago, reflecting the brand’s rapid growth over the past 12 months.

The fresh capital will be used to accelerate store expansion across Tier-1 cities and enter select Tier-2 markets. It also plans to strengthen its leadership and on-ground teams, deepen its Korean-inspired food and beverage offerings, expand its packaged snacking portfolio across its omnichannel network, and launch products tailored for quick-commerce platforms.

Founded by Dhruv Kohli, the company has emerged as one of India’s fastest-growing new-age consumer brands within just two years. Its revenue grew sixfold from ₹5 crore in FY24 to ₹30 crore in FY25, and it is on track to cross ₹100 crore in annual recurring revenue within the next two months. The brand ultimately aims to scale to 1,000 outlets across India over the next five years.

Kohli said the company has spent the past two years building systems that enable consistent scaling, from product quality and supply-chain discipline to store-level execution. According to him, the new capital will help deepen the brand’s presence in Tier-1 cities while expanding into Tier-2 markets in a structured manner. He added that younger consumers are increasingly seeking bold, global flavours but remain loyal only when the experience remains consistent.

The start-up is positioning itself to benefit from rising demand for global street flavours in India, particularly as Korean pop culture continues to influence food trends among younger consumers. Its omnichannel approach, spanning retail outlets, food delivery platforms and quick-commerce partnerships, has helped drive repeat engagement and strong growth.

Investors said the brand has demonstrated strong execution and a scalable playbook. Vishwanath V noted that the company’s operational performance and growth metrics made it an easy decision for the firm to double down on its investment. Meanwhile, Shiv Kapoor highlighted the company’s consistent execution across product quality, customer loyalty and scaling operations.

Harsh Patel added that the brand has managed to build a market-leading position across both the QSR and FMCG segments in just over two years, and the team’s ability to combine creative ideas with strong execution could help it expand into multiple new verticals in the future.