Biryani Blues, a popular quick-service restaurant (QSR) chain known for its biryani dishes, has raised $5 million (about Rs 42 crore) in a pre-Series C funding round to open 100 new outlets across northern India. The round was led by Yugadi Capital, the new investment fund from Carpediem Capital. This investment came at a post-money valuation of Rs 250 crore, a 51% increase from its last valuation during the 2021 round led by Rebel Foods. With this, the company has now raised a total of $15 million since its founding.
Biryani Blues Plans for Expansion
Co-founded in 2013 by Raymond Andrews and Aparna Andrews, Biryani Blues is based in Gurugram. The company will use the new funds to open 100 new stores, strengthen its workforce, and improve its logistics and operations. The founders shared that they plan to launch around 50 new outlets over the next two years. By the third year, they aim to have added 100 outlets in total. Most of the new stores will follow the Express format, smaller, delivery-focused locations set in busy areas like malls and high streets.
Biryani Blues currently runs 68 outlets across North India and Bengaluru. The brand uses a multi-format strategy with dine-in restaurants, Express outlets, and cloud kitchens. Their stores are also present in busy hubs like malls, airports, and railway stations. The company follows an omni-channel model that serves both dine-in and delivery customers. It processes more than two lakh food orders every month. About 70% of these orders come through platforms like Zomato, Swiggy, and Magicpin, while the rest are from their direct channels.
Strong Financial Growth
Biryani Blues ended the financial year 2025 with Rs 85 crore in revenue, up from Rs 76 crore in FY24. The company achieved EBITDA profitability in FY25 by improving its margins and managing inventory more efficiently. Its current annual revenue run rate is around Rs 100 crore, and it targets Rs 102 crore in revenue for FY26. The brand plans to focus on North India for its next phase of growth. Nearly two-thirds of the new outlets are expected to open in the Delhi-NCR region. According to Raymond Andrews, every store in this region becomes profitable or breaks even within just three months of opening.
Arvind Nair, chairman of Carpediem Capital, expressed strong confidence in the company’s leadership and growth strategy. He confirmed that Yugadi Capital is committed to supporting Biryani Blues as it continues to expand. The brand’s consistent performance over the past decade and its profitability make it a strong player in India’s fast-growing food service industry.
With this new funding, Biryani Blues is well-positioned to reach more customers and grow its presence across North India.
