B9 Beverages Ltd, the parent company of Bira 91, announced on Wednesday that it is securing $25 million in fresh funding from Tiger Pacific Capital, an Asia-focused fund with headquarters in New York and Hong Kong. This investment is part of a larger $50 million round, with participation from existing investor Kirin Holdings of Japan, as well as Tiger Pacific Capital from New York.
Ankur Jain, Founder and CEO of Bira 91, expressed enthusiasm about the new partnership, stating, "As Bira 91 continues to advance its growth strategies across various markets and bolster its supply chain, this collaboration will significantly reinforce the company’s financial position."
Jain further added, "With this infusion of capital, we aim to broaden our manufacturing presence to include new regions, such as Uttar Pradesh."
Currently, the company operates six large-scale manufacturing facilities across the country.
Over the past nine years since its inception, Bira 91 has emerged as the fourth largest beer company in India, trailing only behind multinational giants like Heineken, AB-Inbev, and Carlsberg (CSE:CARLa), experiencing robust double-digit growth.
In addition to its brewing operations, Bira 91 also owns and operates The Beer Cafe, the largest beer-centric pub chain in the country.
Run Ye, Founder of Tiger Pacific Capital, expressed excitement about partnering with innovative Indian companies like Bira 91, highlighting their deep understanding of the evolving Indian consumer landscape and their strong local manufacturing presence.
Established in 2015, B9 Beverages has garnered support from prominent investors such as Kirin Holdings, MUFG Bank, Sofina, and Peak XV Partners (formerly Sequoia India), reflecting confidence in its potential for growth and success.
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