Craft beer maker Bira 91 raises $10 million from MUFG Bank
With this investment, the company plans to ramp up its production, bolster supply chain, and enhance innovation capabilities.
, a premium beer company, has raised $10 million from Japan's largest bank MUFG Bank.
The company plans to use the capital to ramp up production, supply chain, and enhance innovation capabilities, the company said in a statement.
"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," said Yasuhide Hayashi, Executive Officer, MUFG Bank.
In November, the Indian craft beer maker brand raised $70 million in Series-D funding round from Japanese beer company Kirin Holdings Co., to expand production capacity by commissioning new breweries and expanding its existing facilities
Founded in 2015, Bira 91 holds a combined manufacturing footprint of about 2.5 million hectoliters, is present in over 550 towns and cities spread across 18 countries, and brews its beers across four breweries in India. It also offers branded merchandise across categories like glassware, apparel, and gifts.
Bira 91 is fourth-largest beer company in the country, and claims to hold a market share of 5% across key markets in India.
The Bengaluru-headquartered brand is backed by Sequoia Capital India, Sofina of Belgium, besides Kirin Holding of Japan.
"We believe that this partnership can help Bira 91 tap into global pools of capital as it continues on its growth journey," Ankur Jain, CEO, Bira 91, said,
It bought pub chain The Beer Cafe to strengthen its play in the pubs and taprooms market, in October.
Edited by Akanksha Sarma