Quick service restaurant chain Biryani Blues has raised $ 5 million (over Rs 40 crore) in a funding round led by Carpediem Capital's new fund Yugadi Capital with participation of other investors.

The funds raised in a pre-Series C funding round will support expansion strategy, enhance human capital across functions, and upgrade operations and logistics. The brand plans to open over 100 new outlets over the next three years.

"We are poised to accelerate our expansion by opening over a 100 new brand stores over the next three years, in popular high street markets and malls across North India," Biryani Blues Co-founder Raymond Andrews says.

Operating under Thea Kitchen Pvt. Ltd, Biryani Blues runs 68 outlets across North India and Bengaluru.

Earlier, Biryani Blues raised $ 5 million in Series B funding from Rebel Foods in FY22. It had previously secured $ 2 million in Series A funding from Carpediem Capital Partners Fund I between FY 2016 and FY 2017.

"With this infusion, we reinforce our confidence in management's ability to scale its decade-long success. We remain committed to supporting Biryani Blues and its strong market potential," Carpediem Capital Chairman Arvind Nair says.

Biryani Blues said it clocked revenue of USD10 million in FY25 and after the latest funding; its valuation has reached USD 30 million.

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“At least for the next two to three years, we plan to remain focused on North India. Every store we open here becomes profitable or breaks even within the first three months. So, it makes sense for us to continue expanding in North India for the next 100 stores. After that, we’ll look at expanding to the rest of the country,” adds Raymond.