In a funding round headed by early-stage venture capital company 8i Ventures, Boba Bhai, a quick service restaurant (QSR) brand that specializes in bubble tea and other culinary products, has raised Rs 30 crore.

Along with other current investors, Titan Capital Winners Fund, Global Growth Capital, and DeVC (led by Z47) also participated in the round.

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“Along with the expansion of outlets, the funds will be used to build a strong brand presence among consumers and our audience. We will also hire some key team members, and, of course, the funds will be deployed as part of R&D, where we will introduce new flavours and products into the market,” founder and chief executive Dhruv Kohli told ET.

The money will go toward diversifying menu offerings, improving operations in existing areas, looking at new sub-brands, and reaching new cities.

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Commenting on the investment, Vishwanath V, general partner at 8i Ventures, said, “Boba Bhai is the clear market leader of the bubble tea category and is a much loved brand among the GenZ in India. We were struck by the velocity and the operational excellence demonstrated by Dhruv & team and are delighted to partner with them.”

About Boba Bhai

Established in 2023 by Dhruv Kohli, Boba Bhai is a tea (chai startup) brand specializes in selling bubble tea and K-pop burgers. The company is now in the pilot stage of launching its Korean-inspired ice cream line nationwide.