Boba Bhai, a quick-service restaurant (QSR) brand specialising in bubble tea and other food items, said it will use the capital for its plan to expand to 100 outlets within the next 12 months. "Our goal is to expand in tier-1 cities within the next six months and then go to tier-2 and tier-3 cities,” founder Dhruv Kohli said.
A slew of homegrown food and beverage brands across categories such as pizzas, bubble teas and burgers are drawing funding from early-stage institutional investors and high net-worth individuals (HNIs).