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QSR chain Biryani Blues raises $5 Mn led by Yugadi Capital

EntrackrEntrackr · 3m ago
QSR chain Biryani Blues raises $5 Mn led by Yugadi Capital
Medial

Quick Service Restaurant (QSR) chain Biryani Blues has raised $5 million (about Rs 42 crore) in a pre-Series C funding round led by 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. Biryani Blues last had a funding round in 2021, when it received $5 million (around Rs 36 crore) from Rebel Foods, the parent company of Faasos and Behrouz Biryani. To date, it has raised $15 million. The fresh funds will be used to open 100 new outlets, hire talent, and improve operations and logistics, Biryani Blues said in a press release. Co-founded in 2013 by Raymond Andrews and Aparna Andrews, Biryani Blues operates in three formats: Express stores focused on delivery with minimal seating, cloud kitchens, and food courts in malls, airports, and railway stations. The brand claims that it currently operates 68 outlets across North India and Bengaluru. Biryani Blues states that it has achieved EBITDA profitability in FY25 after improving its gross margin, which has increased by nearly 5% over the past year. This was achieved through better procurement, streamlined store operations, and effective inventory management. The Hyderabad-based brand operates on an omni-channel model, catering to both dine-in and delivery customers, and processes over two lakh orders each month. Its current annual revenue run rate stands at around Rs 100 crore. Biryani Blues draws 70% of its revenue from aggregators such as Zomato, Swiggy, and Magicpin, while the remaining 30% is split between delivery, dining, and takeaway services. The company ended FY25 with revenue of Rs 85 crore against Rs 76 crore in FY24, and is targeting Rs 102 crore in FY26.

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Exclusive: Biryani Blues losses down by over 30% in 11 months of FY25

EntrackrEntrackr · 1d ago
Exclusive: Biryani Blues losses down by over 30% in 11 months of FY25
Medial

Exclusive: Biryani Blues losses down by over 30% in 11 months of FY25 Quick service restaurant (QSR) chain Biryani Blues reported Rs 76.23 crore in revenue during the 11-month period (Apr–Feb FY25), while narrowing losses by over 30%. Quick service restaurant (QSR) chain Biryani Blues claimed to have hit the Rs 85 crore revenue threshold in the fiscal year ending March 2025. The company appears to be on track, as it reported Rs 76.23 crore in revenue during the 11-month period (Apr–Feb FY25). On a year-on-year basis, the company barely managed double-digit growth in FY25 (11 M FY25), having posted Rs 76.15 crore in revenue in FY24. The FY25 figures are provisional financial statements sourced from filings. Biryani Blues is a QSR chain specializing in biryani. It also offers starters, desserts, and beverages, served through online delivery, dine-in, and take-away outlets. While a detailed revenue breakup has not been disclosed, most of its earnings are likely driven by the sale of these items. The Gurugram-based company also earned Rs 60 lacs of non-operating income, which took the company's total revenue to Rs 76.83 crore. For the biryani brand, the cost of procurement of materials accounted for 27.35% of total expenses at Rs 22.47 crore, which remained flat compared to the previous fiscal. Employee benefit expenses also stayed nearly unchanged at Rs 14.91 crore during the last fiscal year (Apr–Feb FY25). Importantly, the firm’s finance cost surged over 60% to Rs 6 crore. While a detailed expense breakdown was not provided, total expenses declined marginally by 3% to Rs 82.17 crore. The QSR brand’s controlled cost mechanism helped it reduce the losses by over 30% to Rs 5.34 crore in 11M FY25, compared to Rs 8.14 crore in the previous fiscal year. The company’s EBITDA declined 25% but remained positive at Rs 7.25 crore during the 11 months period. These figures are provisional, as the March numbers are yet to be accounted for and may lead to a slight increase. The Rebel Foods-backed company spent Rs 1.08 to earn a rupee in the above-stated period. Its current assets were recorded at Rs 8.57 crore till Feb 25, including cash and bank balances of Rs 1.09 crore. The company has raised over Rs 100 crore ($13.5 million) till date including $5 million raised in May 2025 led by Yugadi Capital, as per TheKredible.

Fintech startup QuiD Cash raises $4.5 Mn in pre-Series A round

EntrackrEntrackr · 8m ago
Fintech startup QuiD Cash raises $4.5 Mn in pre-Series A round
Medial

Supply chain fintech startup QuiD Cash has raised $4.5 million (around Rs 38.23 crore) in its pre-Series A round from a host of angel investors, including Piyush Jain and existing backer MINTCAP. Earlier in 2024, QuiD had raised Rs 5 crore in its pre-seed funding led by Mint Cap Enterprises and Stone Park Capital. The proceeds will be used for technology enhancement and business growth. The firm has also launched QuiD Capital, an NBFC designed to facilitate anchor-led invoice financing. Founded by Subhash Gupta and Vikram AG, QuiD Cash provides tech-based financial solutions through its B2B supply chain platform. It serves around 8,000 users and partners with over 20 major companies in the FMCG, automotive, pharmaceuticals, and agriculture industries. These companies handle transactions worth Rs 50 crore to RS 250 crore every month. The firm operates with a team of 40 employees and plans to expand to 50 people next year. It aims to onboard 5 lakh retailers in the next two years.

abCoffee raises $3.4 Mn in Series A round

EntrackrEntrackr · 1y ago
abCoffee raises $3.4 Mn in Series A round
Medial

Specialty coffee QSR chain abCoffee has raised $3.4 million in its Series A round led by Nexus Venture Partners, with participation from existing investor Tanglin Venture Partners. Earlier to this round, the startup had raised $2 million in its seed round led by Tanglin Venture in September last year. The proceeds will be used to enable abCoffee to ramp up its supply chain and technology stack to bring on-demand coffee beverages at lower prices in quicker time, abCoffee said in a press release. Founded in 2022 by Abhijeet Anand, abCoffee offers a wide variety of freshly brewed coffees at affordable prices and provides all the traditional blends including Americano, Latte, Flat White, Iced Latte, and Irish Cold Coffee. The company boasts a customer loyalty rate of 61%, nearly double the industry average, reflecting its commitment to exceptional service with a turn around time (TAT) of 1.5 minutes. Recently, the brand opened 25 outlets across Mumbai and Delhi within a span of 20 months. The brand is targeting 150 stores by end of 2024. Its competitors include Third Wave Coffee, Blue Tokai, Rage Coffee, Slay Coffee, Sleepy Owl, and Seven Beans Co., among others.

CapGrid Solutions raises $5 Mn led by Anicut Capital

EntrackrEntrackr · 6m ago
CapGrid Solutions raises $5 Mn led by Anicut Capital
Medial

CapGrid Solutions raises $5 Mn led by Anicut Capital B2B manufacturing startup CapGrid Solutions has raised $5 million (around Rs 45 crore) in a funding round led by Anicut Growth Fund. The round also saw participation from existing investors Nexus Venture Partners and Axilor Ventures. Earlier in January 2023, CapGrid had raised $7 million led by Nexus Venture Partners. The round closed at a valuation of Rs 305 crore after the investment, according to an ET report. The proceeds will be used for global expansion and investments in technology to improve supply chain and operational efficiencies. Founded in 2020 by Tiwari and Himanshu Singh Raghuvanshi, CapGrid helps car part makers and suppliers by making it easier to find and buy the materials they need. It helps OEMs procure precision parts and components from suppliers that it has tied up with. CapGrid currently operates around 11 fulfilment centres and has 50 strategic supply manufacturing partners. The Gurugram-based startup claims to have recorded a revenue of around Rs 99 crore in the last fiscal year and expects to reach Rs 220 crore in FY25.

Bubble tea brand Boba Bhai raises Rs 12.5 Cr in seed round

EntrackrEntrackr · 1y ago
Bubble tea brand Boba Bhai raises Rs 12.5 Cr in seed round
Medial

Boba Bhai,a quick-service restaurant (QSR) brand focused on bubble tea and other food items, has raised Rs 12.5 crore in its seed round led by Titan Capital and Global Growth Capital UK. The round also saw participation from Arjun Vaidya, Marsshot VC (RazorPay founders fund), DEVC, Warm up Ventures, Asit Oberoi, 1947 Rise Fund by Shiva Singh Sangwan, Peercheque, Varun Alagh, Mandeep Sodhi, Prabhraj (Simba Beer), FinFirst, Neha Patil, Abhinav Sinha from Oyo and other high profile angel investors. The proceeds will be used across hiring, product line expansion and presence across India, the company said in a press release. This is the first institutional fundraising round since its inception in October 2023. In just six months, the startup claims to have processed over 50,000 monthly orders while expanding its footprint to 25 outlets across seven cities – Delhi, Gurugram, Udaipur, Bengaluru, Mumbai, Hyderabad, and Chennai with an average order volume of Rs 400. Founded by Dhruv Kohli, Boba Bhai is building bubble tea and K-Pop burgers QSR chain to expand its presence globally. The Bengaluru-based firm makes an annual revenue run rate (ARR) of Rs 24 crore and a monthly revenue run rate (MRR) of Rs 2 crore. By December 2024, it aims to reach Rs 60-65 crore. Earlier this month, Kolkata-based QSR chain Wow! Momo secured Rs 70 crore ($8.3 million) in funding from Z3 Partners.

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