Boba Bhai, India’s premier bubble tea brand, made a strong impression on Shark Tank India Season 4, Episode 24.
Founded in 2024 by Dhruv Kohli, the brand offers a vibrant mix of bubble tea, Korean burgers, and K-pop-inspired ice creams, all crafted with locally sourced ingredients.
The founder entered the tank seeking ₹50 lakh for 0.3% equity, valuing the company at ₹166.67 crore.
While the Sharks were intrigued by the boba drinks, Anupam Mittal found the burgers too spicy to take a bite. Investor Viraj Bahl noted the growing trend of Korean cuisine in India, emphasizing how high-spice flavors are becoming mainstream among Gen-Z. To balance the spice, Dhruv introduced a range of flavored ice creams.
When discussing financials, Dhruv revealed ₹5.2 crore in revenue for FY23-24, with a projected ₹30 crore turnover for FY24-25.
Negotiations heated up when Namita Thapar and Viraj Bahl initially offered ₹90 lakh for 1% equity, with a 0.5% royalty until ₹45 lakh was recovered.
Dhruv countered with ₹1.2 crore for the same equity, leading to a final agreement of ₹90 lakh for 1% equity, which he accepted.
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Headquartered in Bengaluru, the startup has rapidly established itself as India’s leading bubble tea brand, blending Korean flavors with Indian innovation.
The brand is carving a niche in the QSR (Quick Service Restaurant) and FMCG markets with its sustainable and locally sourced offerings.
Reflecting on the experience, Dhruv shared,
“We’re not just a food brand; we’re a Gen Z-focused community creating unique experiences. Being on Shark Tank India was incredible, and the Sharks’ insights were invaluable. We’re thrilled to have Viraj and Namita onboard and can’t wait for what’s next for Boba Bhai.”
In January 2025, Boba Bhai secured ₹30 crore (approximately $3.4 million) in a Series A funding round led by 8i Ventures, further strengthening its market position.
