India: Craft brewer Bira 91 raises $70 mln in Series D funding led by Japan’s Kirin Holdings
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Craft beer company Bira 91 has announced that it has raised $70 million in Series D funding, in a round led by leading Japanese beer company - Kirin Holdings, Business Today reported on November 22.
The funds will be deployed to expand production capacity by commissioning new breweries and expanding its existing facilities, the company said in a statement. It added that the capital will also be utilised to increase the company’s distribution footprint across the country and internationally, and further bolster Bira 91’s product development and innovation capabilities.
Hiromasa Honda, Managing Director, Kirin Holdings Singapore, said, "As the fifth largest economy in the world, with increasing digitalisation, 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 premiumise 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.”
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 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,” Ankur Jain, CEO, and Founder of B9 Beverages said.
"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. As we look forward to drive strong growth in revenue, market share, and profitability over the next few decades, we are excited to deepen this long-term partnership further,” Jain added.
Launched in 2015, the company claims to have a presence across 550 towns in 18 countries across the globe. The company also recently announced the acquisition of the beer-pub chain The Beer Café.
