Biryani Blues, a quick service restaurant chain, announced on Tuesday that it had raised USD 5 million (more than Rs 40 crore) in a funding round led by Carpediem Capital's new fund Yugadi Capital, with participation from other investors.

The pre-Series C funding round will support the company's expansion strategy, improve human capital across functions, and upgrade operations and logistics. Biryani Blues plans to open over 100 new locations over the next three years, according to a statement.

"We are poised to accelerate our expansion by opening over 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 said.

Biryani Blues, which operates under Thea Kitchen Pvt. Ltd, has 68 locations in North India and Bengaluru.

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

"With this infusion, we increase our confidence in management's ability to build on its decade-long success. We remain committed to Biryani Blues and its significant market potential," Carpediem Capital Chairman Arvind Nair stated.

Biryani Blues reported USD10 million in revenue in FY25, and its valuation has risen to USD 30 million following the latest funding round.