Bira 91 Raises $70 Mn In Series D Round From Japanese Beer Firm Kirin Holdings Launched in 2015, Bira 91 currently has a portfolio of 10 diverse flavors, along with many seasonal beers released in its tap rooms
By Soumya Duggal •
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Beer brand Bira 91 has raised $70 million in a Series D funding round led by Japanese beer company Kirin Holdings.
The funds will be deployed to expand the company's production capacity by commissioning new breweries and expanding its existing facilities, increase the company's distribution footprint across the country and internationally, and further bolster Bira 91's product development and innovation capabilities, said a statement.
The investment from Kirin Holdings comes at a time when the demand for beer is witnessing a massive surge and the company continues to strengthen its national and global presence as it aims to cement its leadership position in the premium beer market, added the statement.
"India has embarked on its Golden Decade of growth. As the fifth largest economy in the world, with increasing digitalization, and a stable, growth-oriented government, we are very excited to invest further in the "Make in India" journey for the country. We believe that Bira 91 has the potential to premiumize Indian beer through innovation by brewing the highest quality products for the country's consumers. We also believe that over the long term, Bira 91 has the potential to break out internationally as a global brand," said Hiromasa Honda, Managing Director, Kirin Holdings Singapore.
Bira 91 recently announced its goal to become the country's first carbon-neutral beer company and has formed the B9-Kirin Center for Sustainable Growth based out of its New Delhi headquarters, where technical and strategy experts from Kirin are helping the Indian company with its 'net zero' goal.
"We are delighted to see Kirin Holdings doubling down on India and our company. We have forged a special partnership with Kirin that goes beyond capital and is driven by our long-term purpose – our purpose to drive the shift in beer towards more flavor, our purpose to become global leaders in innovation and sustainability. Our intent to create a brand "Imagined in India, for the world", with a strong, world-class manufacturing base in India has accelerated tremendously because of our partnership with Kirin," said Ankur Jain, CEO, and Founder of B9 Beverages.
Launched in 2015, Bira 91 currently has a portfolio of 10 diverse flavors, along with many seasonal beers released in its tap rooms. The company recently announced the acquisition of the largest beer-pub chain in the country, The Beer Café, and claims to have a presence across 550 towns in 18 countries across the globe.
