Rinse the rice 3-4 times or until the water runs clear. Soak with enough water for 15 minutes; drain and set aside after 15 minutes.
Set the instant pot on the SAUTE function. Add butter, and let it melt. Add cumin seeds, bay leaves, black and green cardamom, cinnamon, black peppercorns, cloves, and star anise.
Next add sliced onions and sauté it for 5-6 minutes until the onions are caramelized.
Add in ginger garlic paste and sauté until fragrant. Next, add chopped tomato and salt. Mix and cook it for a few seconds until the tomatoes soften.
Add chili powder, turmeric powder, Garam Masala, coriander powder, and plain yogurt. Mix well.
Add chopped mint and coriander leaves, add soaked rice and mix properly, next add the shrimp and water.
CANCEL the SAUTE button. Select the PRESSURE COOK button on HIGH PRESSURE for 6 minutes. (Make sure the valve is in the SEALING position).
Once the pressure-cooking cycle is over; quick-release pressure by manually moving the valve from SEALING to VENTING position.
Open the lid carefully and select the CANCEL button. Fluff the top layer and gently mix the biryani.
Serve the shrimp Biryani hot with Raita and enjoy.