Comments
India focused private equity fund Carpediem Capital has invested an undisclosed amount in Series A in QSR chain Biryani Blue. While the amount was not disclosed, it is understood to be around ₹50 crore.
Started in 2013 by Raymond and Aparna Andrews, Biryani Blues is owned by Gurgaon-based Thea Kitchen Pvt Ltd and plans to use it to expand its outlets in Delhi-NCR. It plans to add another six outlets in the next 3-6 months.
Arvind Nair, Chairman, Carpediem Capital, said, “The QSR format in India has been dominated by western formats in recent years. The QSR space, especially Biryani, has attracted a lot of investor attention. We believe that with Biryani Blues there is an opportunity to develop a highly scalable Indian QSR format.”
Biryani, as a cuisine and served in QSRs, has attracted a lot of attention from investors in the last couple of years.
SAIF Partners had invested about ₹40 crore in TMA Hospitality Services, which owns Ammi’s Biryani, a Bengaluru-based QSR chain in 2012.
Ammi’s Biryani, with the concept of serving ‘Biryani in a box’, has plans to add 150 outlets by the year-end. Samara Capital has invested a similar amount in Hyderabad-based popular Biriyani restaurant Paradise to expand the chain to other parts of the country.
Navlok Ventures have invested in Bengaluru-based HO Food Services Pvt Ltd, the company that owns and operates QSR chain Mani’s Dum Biryani.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.