Bira91, the fourth-largest beer company in India, has secured a $10 million investment from MUFG Bank, Japan’s largest bank. The funds will be used to ramp up production, supply chain, and enhance innovation capabilities, according to a company statement.
With this latest investment from MUFG Bank, Bira91 hopes to continue its growth trajectory and strengthen its play in the pubs and taprooms market.
This investment comes on the heels of Bira91’s $70 million Series-D funding round in November, led by Japanese beer company Kirin Holdings Co. The company plans to use the capital to expand production capacity by commissioning new breweries and expanding its existing facilities.
“We are eager to work with the Bira91 team to further their growth story and enhance their footprint in India as well as across the globe,” said Yasuhide Hayashi, Executive Officer, MUFG Bank.
Founded in 2015, Bira91 currently holds a market share of 5% across key markets in India and is present in over 550 towns and cities spread across 18 countries. It also offers branded merchandise across categories like glassware, apparel, and gifts.
“We believe that this partnership can help Bira 91 tap into global pools of capital as it continues on its growth journey,” said Ankur Jain, CEO of Bira91. The Bengaluru-headquartered brand is backed by Sequoia Capital India and Sofina of Belgium, in addition to Kirin Holding of Japan.
Bira91 aims to bring flavorful beers to the new world, with a diverse portfolio of award-winning beers and a focus on driving the global shift in beer towards more color and flavor. The company currently brews its beers across five breweries in India and has its flagship taproom in Bangalore, where it releases one new experimental beer every week, paired with its curry-shop menu.