Biryani Blues Raises USD 5 Mn from Yugadi Capital to Fuel Aggressive Expansion Company's FY25 revenue stands at USD 10 million; valuation reaches USD 30 million
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Biryani Blues, the leading Quick Service Restaurant (QSR) chain known for its authentic Hyderabadi dum biryani, has raised USD 5 million in a pre-Series C funding round led by Yugadi Capital, the new fund by Carpediem Capital, with participation from other investors.
The funds will be deployed towards expanding the brand's footprint by opening over 100 new outlets in the next three years, primarily targeting high-street locations and malls across North India. A significant portion of the capital will also be allocated to strengthening its operational and delivery infrastructure and ramping up hiring across corporate and store-level roles.
"We are poised to accelerate our expansion by opening over 100 new brand stores over the next three years," said Raymond Andrews, Co-founder of Biryani Blues. "After optimising operations and turning profitable over the past year, we're in a strong position to deepen our presence in North India before expanding to other regions."
Founded in 2013 by Aparna and Raymond Andrews, Biryani Blues was envisioned as a QSR chain dedicated to biryani, aiming to take this iconic dish global. Operated by Thea Kitchen Pvt Ltd, the brand currently runs 68 outlets across North India and Bengaluru. It serves over two lakh monthly orders through a robust omni-channel model that includes both dine-in and delivery services.
Biryani Blues offers a rich and diverse menu centered on Hyderabadi dum biryani, along with kebabs, curries, breads, and desserts—positioning itself as a value-for-money proposition in the mass market segment. Its Annual Recurring Revenue (ARR) stands at INR 100 crore (~USD 12 million) with a reported FY25 revenue of USD 10 million. The latest funding has taken the company's valuation to USD 30 million.
"With this infusion, we reinforce our confidence in management's ability to scale its decade-long success," said Arvind Nair, Chairman of Carpediem Capital.
Previously, the brand raised USD 5 million from Rebel Foods in 2022 and USD 2 million from Carpediem's earlier fund between FY16–FY17. Biryani Blues now sets its sights on becoming India's number one QSR biryani brand. As its tagline goes: "Think Biryani, Think Biryani Blues."
