Beer brand Bira 91 raises $10 million in funding

Indian craft beer brand Bira 91 has raised $10 million from Japan-based MUFG Bank Ltd. 

The investment comes after the company recently raised $70 million in Series-D funding round, led by Japanese beer company Kirin Holdings Co. 

With this investment, Bira 91 will continue to ramp up its production, bolster the supply chain and enhance innovation capabilities. As one of the fastest-growing brands in the world, the company has built a diverse portfolio of award-winning beers and aims to drive the global shift in beer towards more color and flavor, said the company. 

Ankur Jain, CEO, Bira 91, said, “We are truly excited to partner with MUFG Bank. As Japan’s largest bank with an extremely strong footprint, we believe that this partnership can help Bira 91 tap into global pools of capital as it continues on its growth journey.”

Market share

Bira 91 says it holds a market share of 5 per cent across key markets in India, tripling its pre-Covid numbers. With 5 manufacturing facilities in the country, Bira 91 holds a combined manufacturing footprint of about 2.5 million hectolitres along with a strong presence across 550 towns and 18 countries worldwide.

Yasuhide Hayashi, Executive Officer, MUFG Bank, said, “MUFG Bank has consistently invested in the India growth story. The Indian beer market is booming, owing to various factors. We are proud to collaborate with Bira 91. With this partnership, we are eager to work with the Bira 91 team to further their growth story and enhance their footprint in India as well as across the globe. We are excited to support the company’s Make in India growth story as it expands its manufacturing footprint in the country”.

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