Bobakat Raises ₹6 Crore Pre-Series A to Scale Bubble Tea Brand Across India
Kathy's Beverages Pvt Ltd, the parent company of Mumbai-based bubble tea and beverage brand Bobakat, has raised ₹6 crore (approximately USD 638,000) in a Pre-Series A funding round to fuel a nationwide retail expansion and accelerate product innovation, the company announced Monday.
The fresh capital will be deployed across product innovation, team expansion, marketing initiatives, and an accelerated retail rollout. Bobakat operates a compact, experience-first store format positioned in high-footfall food courts and premium high streets, a model the company says is delivering strong unit economics.
Founded in 2024 by Dr. Rupali Ambegaonkar and Sannjeev Rao, Bobakat has served more than 10 lakh consumers to date and is currently valued at ₹43 crore. The brand is recording strong double-digit year-on-year growth and has set a target of ₹100 crore in Net Sales Value within 36 months.
The fundraise comes against a backdrop of significant market momentum. India's beverage market, valued at USD 80.11 billion in 2025, is projected to reach USD 154.67 billion by 2035, expanding at a compound annual growth rate of 6.80%, according to industry estimates cited by the company. The premium and experiential beverage segment, where Bobakat is positioned, represents one of the category's fastest-growing white spaces.
The company has outlined an aggressive expansion roadmap: 35 new stores in FY26–27, followed by 50 stores each in FY27–28 and FY28–29, spanning metro cities and high-growth emerging urban markets.
"The Indian consumer today is seeking more than just beverages; they are looking for experiences, community spaces, and global formats adapted for local preferences," said Dr. Rupali Ambegaonkar, Founder of Bobakat. "With Bobakat, our vision has always been to build a culturally relevant beverage brand that combines quality, innovation, and accessibility. This fundraise gives us the momentum to strengthen our operations, innovate across our offerings, and scale aggressively across key Indian markets."
Co-founder Sannjeev Rao added, "We see immense headroom in India's organised beverage ecosystem, especially within youth-driven consumption categories. Our compact and scalable retail model allows us to enter high-potential locations efficiently while maintaining strong unit economics. The next phase of growth will focus on expanding our store network, building stronger consumer recall, and creating a differentiated beverage experience."
Bobakat's differentiation strategy rests on four pillars: a quality-first product approach, deliberate audience positioning, a curated in-store consumer experience, and a store format engineered for rapid replication without compromising brand integrity.
The founding team brings deep category and retail expertise. Dr. Ambegaonkar, a former medical professional turned tea sommelier, is the founder of Tea Culture of the World (TCW), a premium tea brand present across more than 200 stores in India. Sannjeev Rao brings over 30 years of brand-building and turnaround experience, with prior leadership roles at Future Group, Aditya Birla Retail, Landmark Dubai, and Raymond, and most recently as CEO of Being Human.
