Beer Brand Bira 91 has raised $10 Mn in a new funding round from MUFG Bank to fuel its Growth and Expansion Plans. In recent years, the company has seen significant growth and has expanded its reach across multiple markets worldwide. In 2021, the company raised $70 million in a Series-D funding round led by Kirin Holdings Co., a Japanese beer company.Â
The investment will be utilized to ramp up the production capacity of Bira 91 and improve its supply chain to meet the increasing demand for its products. Additionally, the company plans to enhance its innovation capabilities to develop more flavorful and colorful beers. Bira 91 aims to lead the global shift towards more artisanal and high-quality beer, setting itself apart from mass-produced commercial brands.
Bira 91 is a beer brand that was founded in India in 2015 by Ankur Jain. The company’s name is derived from ‘Bira’, which is a colloquial term for beer in Hindi, and ’91’ represents India’s country code. Bira 91 has since become a popular beer brand in India and has gained recognition globally.
Yasuhide Hayashi, Executive Officer, MUFG Bank, said, “MUFG Bank has consistently invested in the India growth story. The Indian beer market is booming, owing to factors such as changing lifestyle of consumers, a growing preference for the alcoholic beverage and rising brand consciousness regarding imported and premium beers. With this partnership, we are eager to work with the Bira 91 team to further their growth story and enhance their footprint n India as well as across the globe.”
Ankur Jain, CEO, Bira 91, said, “We are truly excited to partner with MUFG Bank. As Japan’s largest bank with an extremely strong footprint, we believe that this partnership can help Bira 91 tap into global pools of capital as it continues on its growth journey.”
As the fourth-largest beer company in India, Bira 91 holds a market share of 5% across key markets, with a manufacturing footprint of about 2.5 million hectoliters. The company has five manufacturing facilities in India and a presence across 550 towns and 18 countries worldwide. Bira 91 has managed to triple its market share from pre-covid levels, making it one of the fastest-growing beer brands globally.
Bira 91’s success can be attributed to its focus on quality, innovation, and marketing. The company has a wide range of beer flavors that cater to different tastes and preferences. Its marketing campaigns are witty and relatable, targeting a young and trendy audience. Bira 91’s unique approach has helped it create a loyal customer base and gain a strong foothold in the competitive beer industry.
