New Delhi (The Hawk): On Tuesday, prominent Japanese brewer Kirin Holdings revealed that premium beer business Bira 91 had secured $70 million in Series D funding.
The money will be used to open new breweries and expand current ones in order to increase Bira 91's production capacity.
According to a statement from the company, the funds will also be used to expand Bira 91's national and worldwide distribution reach and strengthen its capacity for product creation and development.
Hiromasa Honda, Managing Director of Kirin Holdings Singapore, said, "We are really delighted to invest further in the 'Make in India' journey for the country. As the fifth largest economy in the world, with expanding digitalization, and a stable, growth-oriented administration.
By manufacturing the highest-quality products for Indian consumers, Bira 91, according to Honda, "has the potential to premiumize Indian beer through innovation."
The B9-Kirin Center for Sustainable Growth has been established by Bira 91, which has declared its intention to become the nation's first carbon-neutral beer firm from its New Delhi headquarters.
Ankur Jain, CEO and Founder of B9 Beverages, said, "As we look forward to achieving substantial growth in revenue, market share, and profitability over the next few decades, we are thrilled to strengthen our long-term cooperation further."
The brand, one of the market's newest entrants, has amassed a double-digit share in a number of crucial markets and grown to become India's fourth-largest beer company.
Since its 2015 launch, Bira 91 has offered ten distinctive flavours in addition to a variety of seasonal beers served in its tap rooms.
The purchase of The Beer Cafe was just disclosed by the business.
The Bira 91 firm is present in 550 cities spread across 18 nations.
(Inputs from Agencies)