TLDR:
- Boba Bhai, a bubble tea brand, raises Rs 12.5 crore in seed funding from Titan Capital and others.
- The funding will support the brand’s plan to expand to 100 outlets in the next 12 months.
Bob Bhai, a quick-service restaurant brand specializing in bubble tea and other food items, has secured Rs 12.5 crore in seed funding from investors like Titan Capital and Global Growth Capital UK. The funding round also included participation from other notable investors. The brand has already opened 25 outlets in cities like Bengaluru, Delhi, Hyderabad, and Chennai, and plans to reach 100 outlets within the next year, focusing on tier-1 cities first before expanding to tier-2 and tier-3 cities. The brand currently holds a dominant market share of 90% in the bubble tea industry in cities like Bengaluru.
The company has an annual revenue run rate of Rs 24 crore and aims to reach an ARR of Rs 100 crore in the next 12 months. The funding will also be used to integrate advanced technologies into its offerings and increase its workforce. Boba Bhai has seen success in attracting customers through its company website and online platforms like Zomato and Swiggy, with 70% of its orders coming through these channels.
The brand plans to introduce new bubble tea flavors and expand its dessert offerings in the coming weeks. With a vision to build a large food brand in India, Boba Bhai’s commitment to catering to the preferences and palates of Indian consumers has helped it gain popularity in a short amount of time. This funding round aligns with the trend of homegrown food and beverage brands attracting investments from early-stage investors and individuals interested in the sector.
Overall, the funding will support Boba Bhai’s expansion plans, technological integration, and workforce growth as it aims to solidify its position in the market and continue to cater to the evolving tastes of Indian consumers.
