Bira 91 Raises $70 Mn From Kirin Holdings

Indian beer startup Bira 91 has raised $70 Mn (INR 572 Cr) from the Japanese beverage conglomerate Kirin Holdings. The Bira 91 funding has seen Kirin increase its stake in the beer startup from below 10% to nearly 20%.

In a company statement, the beer startup said it would be deploying the incoming funds to build new breweries and expand the production capacity of existing breweries. The beer startup also will look to expand its distribution footprint in India and abroad, building R&D capacity.

“We have forged a special partnership with Kirin that goes beyond capital and is driven by our long-term purpose – our purpose to drive the shift in beer towards more flavour, our purpose to become global leaders in innovation and sustainability,” said Ankur Jain, founder on the Bira 91 funding announcement.

Founded in 2015 by Jain, Bira 91 has built a portfolio of six types of beers. It has its flagship taproom in Bengaluru, with a presence across 550 towns and cities spanning over 18 countries globally, and four breweries in India.

Hiromasa Honda, managing director, Kirin Holdings Singapore, said, “We believe that Bira 91 has the potential to premiumise Indian beer through innovation by brewing the highest quality products for the country’s consumers. We also believe that over the long term, Bira 91 has the potential to break out internationally as a global brand.”

Bira 91 narrowed its loss by 30% to INR 211 Cr in FY21 from INR 304.8 Cr in FY20. At the same time, its total revenue fell to INR 462.8 Cr in FY21 from INR 466 Cr in the previous year, while its expenses also dropped to INR 674 Cr from INR 719.6 Cr.

Kirin Holdings last invested $30 Mn in February 2021 for a 10% stake in the beer startup. Since then, Bira 91 has raised another $20 Mn. Including the latest round, the startup has raised close to $280 Mn in funding from investors such as Sequoia, Kirin Holdings and Sixth Sense Partners, among others.

In October, the beer startup made headlines by announcing two acquisitions in quick succession.

It acquired the alco-beverage chain The Beer Cafe in an all-stock deal and the brewery company Kamakhya Beer & Bottling Private Limited in two days. The beer startup also recently launched a collaboration with the D2C electronics brand boAt.

Following the collaboration, Bira 91 and boAt have launched ‘BOOM’, an audio collection that combines the Bira 91 brand colours with the electronic brand’s audio devices.