QSR chain Biryani Blues raises $5 million from Carpediem Capital fund, others

Biryani Blues, a quick service restaurant (QSR) chain, has raised $5 million (about Rs 42 crore) in a funding round led by private equity firm Carpediem Capital’s new fund, Yugadi Capital.The round was closed at a Rs 250 crore (around $30 million) valuation, which is a 51% premium to Biryani Blues’ valuation after a funding round in 2021.

The funds will be used to open 100 new outlets, hire talent, and improve operations and logistics.

Founded in 2013 by Raymond Andrews and Aparna Andrews, the Gurugram-based brand operates three formats: Express…