Bira 91 Raises $4.3 Million in Pre-Series C Funding

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Craft beer brand Bira 91 has established close to $4.3 million (Rs 30 crores) as a part of a pre-Series C round from Sixth Sense Ventures India, as per the administrative filings with the MCA. In May 2018, the beer firm had accumulated $50 million from Belgian investment firm Sofina. The organization had then stated that it was contemplating to use the funds to expand its India business five folds over the next few years and build a management situation in the growing Indian premium beer industry.

Bira 91 had established Series A funding from Sequoia Capital in 2016. The multi-stage investor later spent more money in the Indian company. Last year, Bira 91 achieved 335 crores (around $50 million) in a round of funding led by Sofia. The company’s consolidated net sales dropped almost five terms during 2017-18, to Rs 158 crore from Rs 30.9 crore the year before. The investment in Bira 91 was first flagged by data research firm Paper.vc, citing regulatory filings.

The headquarters of Bira 91 is located in Delhi. This beer firm has around a small batch of 350 employees and is financed by major firms of India like Flipkart chief executive Kalyan Krishnamurthy; Zomato founder Deepinder Goyal; Snapdeal founders Kunal Bahl and Rohit Bansal. This financial year, this beer company is also concentrating on extending its prevailing beer production volume in India up to 2 million.

Founded in 2015 by Ankur Jain, Bira91 is a specialty beer brand by B9 Beverages. The organization is focussed on mild beers as its team figured urban users prefer thinner beers. Bira 91 started with two types of beer – a European style pilsner, which is comparable to a lager, that is based on Belgium beers, which has citrus and coriander notes. Initially, Bira imported the beer from Belgium and bottled it in India. It is accessible in various flavors and has is available across various cities like Delhi, Mumbai, Goa, Kolkata, Bengaluru, Pune, and Chandigarh.

Last year, the group was also accelerating the effects on the international extension. It had said that it will more enter in the Northeast areas of the US including New York City, Philadelphia, Boston, New Jersey, Connecticut, and Rhode Island. Bira 91 started increasing in upstate New York to service the region.