CPE News (4.3.2024) – Distribution Bobba Inc. has raised $1 million in seed funding from private investors including Étienne Plourde and Jonathan Roy, co-founders of WeCook, and Bernard Prévost, founder of Miss Fresh.
Led by founder Sébastien Fiset, Québec City based Bobba specializes in producing ready-to-drink bubble tea sold through major food distribution networks. In its first year, it received the Innovation Award from the Conseil de la transformation alimentaire du Québec. Bobba is made from real matcha or black tea with fruit juice beads and no extraneous additives, with less than 15 grams of sugar and under 90 calories per bottle.
photo credit: Bobba
News Release
Bobba completes $1 million round of financing led by group of strategic investors
Québec bubble-tea brand prepares to conquer markets in the United States, Europe and Asia
MONTRÉAL, April 3, 2024 /CNW/ – Québec-based ready-to-drink bubble tea producer Bobba today announced that it has taken a major step forward in its international expansion with an initial $1 million in financing from a group of strategic investors that includes Étienne Plourde and Jonathan Roy, co-founders of WeCook, and Bernard Prévost, founder of Miss Fresh.
Founded in 2021 by visionary entrepreneur Sébastien Fiset (also the originator of popular cookie dough brand Cookie Bluff), Bobba is already recognized as the Canadian leader in its market segment. Internationally, the SME now has over 4,000 points of sale, including 2,000 in France thanks to partnership agreements with the E. Leclerc and Auchan banners. In the U.S., Bobba has partnered with grocery store chain The Fresh Market and food broker Acosta. Locally, it has benefited from an agreement with the Couche-Tard banner since last year.
Expertise to drive growth
Besides strengthening its global brand presence, the investment will help Bobba consolidate its continued growth in the major-distribution ready-to-drink market. “Primarily, it will help improve our distribution channels and marketing strategies in North America,” Mr. Fiset explains. “It will also bolster the brand’s offline and online presence, as well as help us continue researching and developing new lines. Lastly, the input from investors familiar with the online milieu will bring us new digital marketing expertise that will enhance Bobba’s strengths in retail.”
Étienne Plourde and Jonathan Roy will join the Bobba Board of Directors and act as consultants to senior management. “Right from our initial conversations with Sébastien and his group, we saw something special,” Mr. Plourde says. “It’s quite rare to find, in a really young organization, a mature team like this with such an extensive distribution network and a one-of-a-kind product. We were won over by their bubble tea, which is the first upmarket yet affordable ready-to-drink variety available on major chain shelves in North America. Bobba is truly unique, and healthy.”
About Bobba
Founded in 2021, Québec-based Bobba specializes in producing ready-to-drink bubble tea sold through major food distribution networks. In its first year, it received the Innovation Award from the Conseil de la transformation alimentaire du Québec. Bobba is made from real matcha or black tea with fruit juice beads and no extraneous additives, with less than 15 grams of sugar and under 90 calories per bottle.
SOURCE Distribution Bobba
For further information: and interview requests: Jessica Frenette, jessica.frenette@bobbadrink.com, 418 932-4708