Flavored Beer manufacturer Bira 91 earns $25 million in Series D
The craft beer maker Bira 91 secured $25 million in Series D funding round from Kirin Holdings Singapore, an existing investor, a document submitted to the Ministry of Corporate Affairs said.
According to the regulatory filing, the company has agreed to use the external commercial borrowing (ECB) in two $12.5 million installments. Additionally, Bira 91 has agreed to grant Kirin Holdings the right to convert the company’s outstanding borrowings into Series D Compulsorily Convertible Cumulative Preference Shares - Series D CCCPS.
The financing round comes a couple of months after Bira 91 raised $25 million from Tiger Pacific Capital in March 2024. This brings the all-out cash the New Delhi-based organization brought to $50 million up in the past 90 days.
Bira 91, founded in 2015 by Founder and CEO Ankur Jain, serves customers in 24 countries and is supported by Sequoia Capital India, Sofina in Belgium, and Kirin Holding in Japan.
In addition, the business owns 39 pubs that it operates under the name “The Beer Café,” which it purchased in 2022 in order to expand its retail presence.
As indicated by market information site Tracxn, the enhanced beer producer has raised a sum of $453 million across 17 rounds of value financing.
The Indian beer market is supposed to reach about $10 billion out of 2032, displaying a development rate (CAGR) of 7.1% during 2024-2032, as per a report by the IMARC Group. The report featured a rising inclination for cocktails among millennial customers, alongside accessibility to the items, to be among the key variables driving this development.
B9 Beverages Ltd, the parent organization of Bira 91, detailed a 14.4% growth in its merged total income to Rs. 848.7 crore during FY22-23 on a year-on-year premise. It stated that its FY23 net loss increased by 11% to Rs. 445.5 crore.
According to the regulatory filing, the company has agreed to use the external commercial borrowing (ECB) in two $12.5 million installments. Additionally, Bira 91 has agreed to grant Kirin Holdings the right to convert the company’s outstanding borrowings into Series D Compulsorily Convertible Cumulative Preference Shares - Series D CCCPS.
The financing round comes a couple of months after Bira 91 raised $25 million from Tiger Pacific Capital in March 2024. This brings the all-out cash the New Delhi-based organization brought to $50 million up in the past 90 days.
Bira 91, founded in 2015 by Founder and CEO Ankur Jain, serves customers in 24 countries and is supported by Sequoia Capital India, Sofina in Belgium, and Kirin Holding in Japan.
In addition, the business owns 39 pubs that it operates under the name “The Beer Café,” which it purchased in 2022 in order to expand its retail presence.
As indicated by market information site Tracxn, the enhanced beer producer has raised a sum of $453 million across 17 rounds of value financing.
The Indian beer market is supposed to reach about $10 billion out of 2032, displaying a development rate (CAGR) of 7.1% during 2024-2032, as per a report by the IMARC Group. The report featured a rising inclination for cocktails among millennial customers, alongside accessibility to the items, to be among the key variables driving this development.
B9 Beverages Ltd, the parent organization of Bira 91, detailed a 14.4% growth in its merged total income to Rs. 848.7 crore during FY22-23 on a year-on-year premise. It stated that its FY23 net loss increased by 11% to Rs. 445.5 crore.
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