Bira 91 Parent Bags $20 Mn Amid Dry Spell

SUMMARY

Sequoia Capital, Sofina Capital and Neoplux participated in the round

The funding is said to be a part of a larger $30 Mn round

The lockdown has dried up revenue generated from alcohol sales

Delhi-based craft beer maker B9 Beverages, the parent company of Bira 91, has raised $20 Mn bridge funding in Pre-Series C round led by existing investors Sequoia Capital India and Belgium’s Sofina Capital.

Bridge funding also is known as bridge financing, is intermediate funding intended to cover a business’s short-term expenses until long-term funding is secured.

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