Premium beer startup, Bira 91 bags $10 Mn from MUFG Bank ( Japan’s largest Bank ). Before this, Bira 91 also raised $70 Mn from Japanese beer company Kirin Holdings. Besides, the beer company raised $70 Mn in its series D funding round.
Due to the rise in demand, the company plans to utilize the funds in multiple ways. This Indian beer startup plans to use the capital to speed up its production capabilities. Furthermore, it also intends to use the funds for developing the supply chain. In addition to this, Bira 91 will also look to enhance its innovative approach toward products.
Yasuhide Hayashi, Executive Officer of MUFG Bank also expressed his opinions on this deal. He passionately discussed their future contributions to Bira 91. Furthermore, he also gave his opinions on Bira 91’s growth and expansions.
About Bira 91
Set up in 2015, Bira 91 is a premium Indian craft beer brand. Additionally, Bira 91 is India’s fourth largest beer brand which holds 5% of the market share across the nation. The parent company of Bira 91 is B9 Beverages. Along with the above-mentioned details, Bira 91 is present in over 550 locations. It is also present in more than 18 countries. Furthermore, there are 4 breweries in India.
In addition to this, it also offers various merchandise like glassware, apparel and gifts.
Besides Kirin Holding of Japan, Bira 91 is backed by Sequoia Capital India and Sofina of Belgium.
Certainly, there is a rise in demand for craft beer because of its lightness and freshness. Young peers are more inclined towards craft beers.
Bira 91 faces direct competition with Carlsberg, Heineken and AB InBev, etc.
In October 2022, this premium beer brand acquired The Beer Cafe in an all-stock deal. In addition to this, Bira 91 also acquired Kamakhya Beer and Bottling Private limited. These acquisitions will add value to the company in terms of growth and development.
The rise in the beer market is tremendous. People of different ages demand craft beer. The beer market is around INR 35,000 Cr and is expected to grow around INR 58,000 Cr by 2027.
Featured Image Credit: PR Newswire
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