Boba Bhai, founded by Dhruv Kohli in 2023, has tapped into Gen Z-focused quick-service restaurant (QSR) brand that serves bubble teas, burgers, and ice creams.
In just over a year, Boba Bhai has expanded to 40+ outlets across India, fulfilling more than 70,000 orders per month.
Brand mixes Korean and Gen Z aesthetics, aims to bring unique flavors, playful branding, and an experiential café culture to Indian consumers.
When Dhruv Kohli stepped into Shark Tank India, he had a bold ask, ₹50 lakh for 0.3% equity, valuing the company at ₹166 crore.
While sharks saw potential in the bubble tea concept, some had reservations about the food offerings and pricing strategy.
Two sharks decided to make a joint offer: Sharks Namita Thapar and Viraj Bahl offered ₹90 lakh for 1% equity. They included a 0.5% royalty until ₹45 lakh was recouped.
Realizing that securing two experienced investors in the food and retail industry could accelerate his business, Dhruv accepted the deal at ₹90 lakh for 1% equity.
Here’s why Namita and Viraj made the deal: Bubble Tea is Booming in India, Gen Z Engagement & Digital Marketing Strength, Proven Expansion Ability.