Bira 91, the premium beer company, announced that it has raised $70 million in Series D funding, in a round led by Japanese beer company - Kirin Holdings.
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.
The funds will be deployed to expand production capacity by commissioning new breweries and expanding its existing facilities. 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, "India has embarked on its Golden Decade of growth. 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.”
On the experience of working with Bira 91 till now, he added, “Over the last year, Kirin Holdings has worked with the management team of Bira 91 across some of the key aspects of business, especially in areas of manufacturing capability and sustainability. We are delighted to see the growth Bira 91 has witnessed post the pandemic and we strongly believe that Bira 91 has tremendous potential in this growing market. The partnership with Bira 91 could be a great model for accelerated success in emerging markets, by driving localised manufacturing and innovation combined with a focus on sustainability.”
Bira 91 recently announced its goal to become a 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.
Ankur Jain, CEO, and Founder of B9 Beverages, said, “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 flavour, 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. 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.”