Bira91 raises $70M from Japan’s Kirin Holdings in Series D funding
- ByStartupStory | November 22, 2022
Bira91 has raised $70 million in Series D funding from Japan’s Kirin Holdings.The agreement increases Kirin’s ownership of the company from 10% to almost 20%. By opening additional breweries and expanding its current facilities, the corporation will use the capital to increase production capacity. According to a statement from Bira91, the funds will also be used to increase the company’s domestic and worldwide distribution base.
The brewery has already raised more than $200 million from backers including Sequoia Capital India, Sofina, and Kirin Holdings. Over 500 towns and localities in 18 nations, as well as four breweries in India, are home to Bira91.
To improve its position in the pubs and taprooms industry, it purchased pub chain The Beer Cafe last month. Bira Acquires a Chain of Retail Bars Inn at the Beer Despite the pandemic’s effects, the beer manufacturer also had a very strong FY21, with revenue of Rs 431 crore and losses that shrank by 21%.
“Over the past year, Kirin Holdings has collaborated with Bira91’s management team on a number of critical business issues, particularly those pertaining to manufacturing capacity and sustainability. Hiromasa Honda, Managing Director of Kirin Holdings Singapore, expressed his delight at the growth Bira91 has experienced since the pandemic and his firm belief that Bira91 has enormous potential in this expanding market.
Follow Startup Story
Related Posts
