Biography of Dhruv Kohli: Founder & CEO of Boba Bhai -Entrepreneur
Rise of Boba Bhai: Dhruv Kohli’s Journey in Revolutionizing India’s Bubble Tea Market
From Vision to Reality: The Birth of Boba Bhai
In October 2023, Dhruv Kohli embarked on a bold mission to
introduce India’s fastest-growing bubble tea and Korean burger QSR (Quick
Service Restaurant) chain—Boba Bhai. With a vision to blend the flavors of
Korean-inspired fast food with the refreshing appeal of bubble tea, Boba Bhai
was built on innovation, quality, and a deep understanding of the evolving
preferences of Indian consumers.
Strategic Funding and Market Confidence
Boba Bhai’s growth trajectory quickly gained the attention
of prominent investors. On Shark Tank India Season 4, the brand secured INR 90
lakh for a 1% equity stake from investors Namita Thapar and Viraj Bahl. This
investment validated the brand’s market potential and positioned it for
aggressive expansion. Additionally, in January 2024, Boba Bhai raised INR 30
crore in a Series A funding round led by 8i Ventures, further solidifying its
financial backing and ability to scale rapidly.
A Rapidly Expanding Footprint Across India
Since its inception, Boba Bhai has experienced explosive
growth, expanding across nine major Indian cities, including Bengaluru, Mumbai,
Chennai, Hyderabad, and Delhi. Within just a few months, the brand had
processed over 80,000 orders per month and established 42 outlets. Its cloud
kitchen model, which allows for testing market response before converting
profitable locations into physical stores, played a crucial role in this rapid
expansion.
Unique Fusion of Flavors: What Sets Boba Bhai Apart?
Boba Bhai stands out due to its innovative menu, which
merges Korean-inspired fast food with Indian palates. The brand offers 15
burger varieties, seven ice cream flavors, and 20 different types of bubble
tea, catering to a wide audience. Unlike traditional QSR chains, Boba Bhai has
successfully capitalized on the growing popularity of Korean culture, K-pop,
and K-dramas among Indian youth, making it more than just a food brand—it’s a
lifestyle choice.
Early Financial Growth and Increasing Consumer Demand
Boba Bhai’s business model and consumer appeal translated
into strong sales numbers right from the start. Within its first month of
operations in October 2023, the brand generated INR 40 lakh in sales, which
grew to INR 60 lakh by November 2023. By July 2024, the company’s monthly
revenue skyrocketed to INR 1.7 crore, showcasing the increasing consumer demand
and brand recognition.
Scaling Operations with a Strong Business Model
The company’s revenue growth wasn’t just a result of
expansion but also efficient business strategies. Boba Bhai leverages cloud
kitchens to keep overhead costs low while ensuring market penetration. The
conversion of successful cloud kitchens into physical outlets allows the brand
to sustain its profitability while scaling operations.
Achieving Significant Milestones in Revenue Growth
Boba Bhai’s financial success is evident from its annual
revenue growth. In FY2023–24, the company reported total revenue of INR 5.2
crore. By October 2024, revenue for FY2024–25 had already reached INR 17 crore,
with projections estimating a total revenue of INR 30 crore for the fiscal
year. These figures demonstrate Boba Bhai’s ability to scale rapidly while
maintaining profitability.
Strategic Investments from Industry Leaders
The brand’s success has attracted multiple high-profile
investors. Kunal Bahl, co-founder of Snapdeal, invested INR 3 crore in November
2023, further boosting its valuation. In July 2024, Boba Bhai secured INR 30
crore in a fresh funding round, leading to a post-money valuation of INR 110
crore. These investments highlight investor confidence in the brand’s potential
for long-term success.
Building a Strong Brand Identity in a Competitive Market
Boba Bhai has successfully positioned itself as a unique
brand in India’s fast-growing QSR segment. By tapping into Korean food trends,
the brand differentiates itself from conventional burger and tea chains. Its
trendy and youthful branding, combined with a strong digital presence, has made
it a favorite among Gen Z and millennials.
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Angel Investments and Dhruv Kohli’s Entrepreneurial
Experience
Beyond Boba Bhai, Dhruv Kohli is a seasoned entrepreneur and
angel investor. He has backed multiple startups, including MiniMines, Inc42,
Nitro, The Happy Company, Balwaan Krishi, NeoSapien, and Dressfolk, through
various investment syndicates. He is also an LP (Limited Partner) at Point One
Capital, showcasing his commitment to supporting emerging businesses.
Geezy: Dhruv Kohli’s Previous Success Story
Before founding Boba Bhai, Dhruv co-founded Geezy, a
bootstrapped startup that grew into a INR 150 crore revenue business in just
two years. Operating in 14 countries, Geezy’s AI-driven growth platform helped
restaurants increase revenue through order management, promotions, and virtual
brands. His success with Geezy provided him with the expertise and financial
resources to launch Boba Bhai with confidence.
Forbes 30 Under 30 Recognition
Dhruv’s entrepreneurial achievements have not gone
unnoticed. In 2023, he was named in Forbes 30 Under 30 Asia, a prestigious
recognition that highlights his impact in the hospitality tech and QSR
industry. This accolade has further enhanced his reputation as a leading
innovator in the Indian startup ecosystem.
Future Plans: Expanding Nationwide and Introducing
Ready-to-Drink Boba
With strong backing and increasing market demand, Boba Bhai
is gearing up for further expansion. The brand aims to increase its physical
store count, introduce ready-to-drink bottled bubble tea, and explore retail
partnerships to make its products more widely available. The growing acceptance
of bubble tea in India presents a massive market opportunity, and Boba Bhai is
well-positioned to dominate the space.
Challenges and Opportunities in the QSR Industry
Despite its success, Boba Bhai faces challenges such as
competition from global brands, supply chain complexities, and changing
consumer preferences. However, its agility, innovative business model, and
strong investor backing give it an edge in overcoming these obstacles. The QSR
industry in India is poised for massive growth, and Boba Bhai is on track to
become a household name in the segment.
Conclusion: A Game-Changer in India’s Food & Beverage
Industry
Boba Bhai’s journey is a testament to the power of
innovation, strategic execution, and strong leadership. Under Dhruv Kohli’s
vision, the brand has evolved from a new startup to a multi-city QSR chain in
record time. With continued expansion, strong financial backing, and an
ever-growing consumer base, Boba Bhai is set to reshape India’s bubble tea and
Korean fast food market, making it a brand to watch in the coming years.
Timeline for story
October 2023 – Dhruv Kohli launches Boba Bhai.
November 2023 – Kunal Bahl invests INR 3 crore.
December 2023 – Boba Bhai reaches 42 outlets.
January 2024 – Raises INR 30 crore in Series A led by 8i
Ventures.
July 2024 – Monthly revenue hits INR 1.7 crore; valuation
reaches INR 110 crore.
October 2024 – FY2024–25 revenue reaches INR 17 crore.
Future Plans – Nationwide expansion, ready-to-drink bubble
tea launch.
