Boba Bhai raises Rs 12.5 crore in its seed round funding led by Titan Capital and Global Growth Capital UK. The first institutional funding since inception of Boba Bhai in Oct 2023.
The founder Dhruv Kohli said Boba Bhai is building bubble tea and K-Pop burgers QSR chain to expand its presence globally
Boba Bhai, a quick-service restaurant (QSR) brand has one of the brand as Bubble Tea and other food items.
The funding 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 funding proceeds will go hiring p[urpose, product line expansion and presence across India, the company said in a press release.
Brand expansion and Revenue of Boba Bhai
In a span of 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. All the outlets are company owned.
Boba Bhai 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.
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