MUFG Bank invests $10 million in Bira 91, a craft beer maker
- ByStartupStory | March 10, 2023
Bira91, a high-end beer producer, announced that it secured $10 million in funding from MUFG Bank, the biggest bank in Japan.
The company intends to utilise the funds to increase their production capacity, optimise their supply chain, and strengthen their innovation capabilities, as stated in their official statement.
Yasuhide Hayashi, Executive Officer of MUFG Bank, expressed enthusiasm “to collaborate with Bira 91’s team and contribute to their expansion in India and worldwide”.
Last November, Bira 91, the craft beer producer based in India, secured $70 million in a Series-D funding round from Kirin Holdings Co., a Japanese beer company. The investment was intended to enable Bira 91 to increase its production capacity by constructing new breweries and expanding its current facilities.
Established in 2015, Bira 91 operates four breweries in India and has a combined production capacity of approximately 2.5 million hectoliters. The company’s presence spans across 18 countries, with distribution networks in over 550 towns and cities. In addition to brewing beer, Bira 91 also provides a range of branded merchandise such as glassware, apparel, and gifts.
Ranked as the fourth-largest beer company in India, Bira 91 reportedly possesses a 5% market share in significant markets across the country. The company, based in Bengaluru, is supported by several prominent investors including Sequoia Capital India, Sofina of Belgium, and Kirin Holding of Japan.
Ankur Jain, the CEO of Bira 91, stated that “the collaboration with MUFG Bank could provide the company access to global capital resources and support its growth trajectory”.
In October, Bira 91 acquired The Beer Cafe, a pub chain, to reinforce its position in the pubs and taprooms sector.
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