Quick service restaurant (QSR) brand Biryani Blues has secured $5 million (approximately Rs 42 crore) in a fresh funding round led by Yugadi Capital, the latest fund from Carpediem Capital. The deal values the Hyderabad-based biryani chain at Rs 250 crore (around $30 million), reflecting a 51% increase in valuation since its last funding round in 2021.
This capital infusion marks the brand’s third major fundraising, bringing its total funding to $15 million. In 2021, Biryani Blues raised a similar amount from Rebel Foods, the parent company behind brands like Faasos and Behrouz Biryani. With the new funds, Biryani Blues plans an aggressive growth strategy that includes launching 100 new outlets, strengthening its workforce, and upgrading its operational and logistical infrastructure.
Founded in 2013 by Raymond and Aparna Andrews, the company currently operates 68 outlets, primarily in North India and Bengaluru. It functions through multiple formats — delivery-centric express stores, cloud kitchens, and presence in high-traffic zones like malls, airports, and railway stations. The brand announced that it has achieved EBITDA-level profitability for FY25, crediting a 5% improvement in gross margins to efficient procurement, tighter inventory control, and streamlined store operations.
Catering to both dine-in and delivery customers through an omnichannel model, Biryani Blues processes over 200,000 orders each month. A significant 70% of its revenue comes from food aggregators such as Zomato, Swiggy, and Magicpin, with the remaining 30% generated through its platforms and dine-in services. The company closed FY25 with Rs 85 crore in revenue, up from Rs 76 crore in FY24, and has set its sights on hitting Rs 102 crore in FY26.