A new funding round led by Yugadi Capital, a new fund of Carpediem Capital, has raised $5 million (roughly Rs 42 crore) for the Quick Service Restaurant (QSR) chain Biryani Blues. The round ended with a valuation of Rs 250 crore, or about $30 million, which is 51% higher than Biryani Blues’ valuation following a funding round in 2021.
Rebel Foods, the parent company of Faasos and Behrouz Biryani, gave Biryani Blues $5 million (roughly Rs 36 crore) in 2021, the company’s most recent funding round. It has raised $15 million so far.
According to a press release from Biryani Blues, the new funding will be utilized to hire staff, open 100 new locations, and enhance operations and logistics.
Cloud kitchens, food courts in shopping centers, airports, and train stations, and express stores that prioritize delivery with little seating are the three ways that Biryani Blues, which was co-founded in 2013 by Raymond and Aparna Andrews, operates. The company says it has 68 stores in Bengaluru and North India right now.
After increasing its gross margin by almost 5% in the previous year, Biryani Blues claims to have achieved EBITDA profitability in FY25. This was accomplished through efficient inventory management, streamlined store operations, and improved procurement.
The Hyderabad-based company processes more than two lakh orders a month and uses an omni-channel business model to serve both dine-in and delivery customers. At present, its yearly revenue run rate is approximately Rs 100 crore.
Delivery, dining, and takeout services account for 30% of Biryani Blues’ revenue, with 70% coming from aggregators like Zomato, Swiggy, and Magicpin. With revenue of Rs 85 crore at the end of FY25, compared to Rs 76 crore in FY24, the company is aiming for Rs 102 crore in FY26.
