Popular craft beer brand, Bira 91, announced that it has received funding worth USD 50 million led by Belgian investment firm, Sofina, thus bringing the company’s total funding to over USD 100 million.
This latest round of investment will be deployed to expand the India business five-fold over the next three years and establish a leadership position in the Indian premium beer market. It will also further accelerate Bira 91’s global footprint with expansion in the US market, as well as the Asia Pacific, including Singapore, Thailand, Hong Kong and Vietnam.
With the global craft beer market projected to reach over USD 502 billion by 2025, and the market expected to witness substantial growth over the forecast period due to the rising demand for craft beers- Bira 91’s growth comes at an opportune time to corner a rising market and reach emerging consumers.
The company expects to use the new funds to expand its production footprint by more than five-fold to 2,000,000 barrels from the current capacity of 350,000 barrels per annum.
“Bira 91 aspires to drive the global shift in beer towards more flavour and colour. The new capital allows us to think long-term and establish a leadership position in premium beer in India. We also expect to create a meaningful international business in South East Asia and the United States,” said Bira 91 founder and CEO, Ankur Jain.