Bira 91 raises $90 mn with funding from Japanese beer major Kirin Holdings

TOKYO: Bira 91, the world's fastest-growing premium beer company, announced on Tuesday that it has raised $70 million in Series D funding led by Kirin Holdings, a leading Japanese beer company. Kirin Holdings' investment comes at a time when beer demand is skyrocketing, and the company is expanding its national and global footprint in order to cement its leadership position in the premium beer market.

The funds will be used to increase production capacity by opening new breweries and expanding existing ones. The funds will also be used to expand Bira 91's distribution footprint across the country and internationally, as well as to strengthen the company's product development and innovation capabilities.

Sharing his perspective, Hiromasa Honda, Managing Director, Kirin Holdings Singapore, said, "India has embarked on its Golden Decade of growth. As the fifth largest economy in the world, with increasing digitalization, and a stable, growth-oriented government, we are very excited to invest further in the "Make in India" journey for the country. We believe that Bira 91 has the potential to premiumize Indian beer through innovation by brewing the highest quality products for the country's consumers. We also believe that over the long term, Bira 91 has the potential to break out internationally as a global brand."

On the experience of working with Bira 91 till now, he further added, "Over the last year, Kirin Holdings has worked with the management team of Bira 91 across some of the key aspects of business, especially in areas of manufacturing capability and sustainability. We are delighted to see the growth Bira 91 has witnessed post the pandemic and we strongly believe that Bira 91 has tremendous potential in this growing market. The partnership with Bira 91 could be a great model for accelerated success in emerging markets, by driving localized manufacturing and innovation combined with a focus on sustainability."

Bira 91 recently announced its goal to become the country's first carbon-neutral beer company and has formed the B9-Kirin Center for Sustainable Growth based out of its New Delhi headquarters, where technical and strategy experts from Kirin are helping the Indian company with its Net Zero goal.

Commenting on the announcement, Ankur Jain, CEO, and Founder of B9 Beverages said, "We are delighted to see Kirin Holdings doubling down on India and our company. We have forged a special partnership with Kirin that goes beyond capital and is driven by our long-term purpose – our purpose to drive the shift in beer towards more flavor, our purpose to become global leaders in innovation and sustainability. Our intent to create a brand "Imagined in India, for the world", with a strong, world-class manufacturing base in India has accelerated tremendously because of our partnership with Kirin. As we look forward to drive strong growth in revenue, market share, and profitability over the next few decades, we are excited to deepen this long-term partnership further."

Bira 91 has experienced tremendous growth in recent years. As one of the market's youngest players, the brand has secured a double-digit share in several key markets and risen to become India's fourth-largest beer company. The company, which was founded in 2015, has a portfolio of ten distinct flavors, as well as many seasonal beers available in its tap rooms. The Beer Café, the country's largest beer-pub chain, was recently acquired by the company. The company is present in 550 towns in 18 countries around the world.