Biryani Blues Secures $5 Million Funding to Accelerate QSR Expansion in India

May 13, 2025

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Biryani Blues, the Gurugram-based quick service restaurant (QSR) chain has raised $5 million (approximately ₹42 crore) in a pre-Series C funding round led by Yugadi Capital, a fund managed by Carpediem Capital. The investment values the company at ₹250 crore (around $30 million), marking a 51% increase from its 2021 valuation.

The fresh capital will support the brand’s ambitious plans to expand its footprint across India and enhance operational efficiencies.

"Our focus is to open around 50 stores over the next two years, and by the third year, we aim to have about 100 new stores."

Raymond Andrews Tweet

Strategic Expansion and Operational Enhancements

Biryani Blues plans to utilize the funds to open over 100 new outlets over the next three years, focusing on high-street markets and malls across North India. The expansion will primarily feature the ‘Express’ format—compact stores of approximately 700 square feet designed for quick service and delivery.

The company currently operates 68 outlets across North India and Bengaluru, including express stores, cloud kitchens, and food courts in malls, airports, and railway stations.

Financial Performance and Future Outlook

In FY25, Biryani Blues achieved EBITDA profitability, with a 5% improvement in gross margins attributed to better procurement, streamlined store operations, and effective inventory management. The brand processes over two lakh orders monthly and has an annual revenue run rate of approximately ₹100 crore.

With 70% of its revenue generated through aggregators like Zomato, Swiggy, and Magicpin, the company aims to reach ₹102 crore in revenue for FY26.

The latest funding round brings Biryani Blues‘ total capital raised to $15 million, following previous investments from Rebel Foods and Carpediem Capital Partners Fund I.