Exclusive: Bira 91 Raises Fresh Funding From Slew Of Investors

Exclusive: Bira 91 Raises Fresh Funding From Slew Of Investors

SUMMARY

The company has raised the funds by issuing 3,00,958 Series C1 CCPS at a face value of INR 100 per share

The total amount raised by the company is INR 116,542,784 from 18 investors including the Vikramaditya Mohan Thapar Family Trust

Earlier this year, Bira91’s parent company B9 Beverages had raised $20 Mn in a Pre-Series C funding round

Delhi-based craft beer maker B9 Beverages, the parent company of Bira 91, has raised over INR 11.5 Cr in Series C funding from several investors.

According to filings with the Ministry of Corporate Affairs (MCA) accessed by Inc42, the company has raised the funds by issuing 3,00,958 Series C1 Cumulative Compulsorily Convertible Preference Shares (CCPS) at a face value of INR 100 per share and a premium of INR 287 per share. 

The total amount raised by the company is INR 116,542,784 from 18 investors — Reddevanga Ventures LLP (25,837 shares), Harish Pravishchandra Shah (26,000 shares), Oriental Carbon and Chemicals Ltd (25,837 shares), Ashwini Upadhyay (12,500 shares), Arvind Bansal(1,243 shares), Atul and Sabina Gupta(2,487 shares), Nihar Kothari (2,486 shares), Siddharth Kothari (2,486 shares), Naveen Sangari (12,461 shares), Shyam Sundar Palreddy (25,837 shares), Madhuri Jain (2,253 shares), Anurag Jain (3,875 shares), PDK Impex Pvt Ltd (2,486 shares), Jaideep Hansraj (2,650 shares), Chakravadhanula Venkateswara Sarma (13,000 shares), Rishabh Jain (6,460 shares), Vikramaditya Mohan Thapar Family Trust (1,29,185 shares) and Abhishek Goyal (3,875 shares).

Founded in 2015 by Ankur Jain, B9 Beverages is the parent company behind craft beer brand Bira 91. It is available in multiple variants and has a presence across Delhi-NCR, Mumbai, Goa, Kolkata, Bengaluru, Pune, and Chandigarh. Currently, the company operates two breweries in Andhra Pradesh and Karnataka and has offices in nine cities including New York. Last year, it also entered the mass production segment with its product Boom.

In April 2020, the company raised $20 Mn in a Pre-Series C bridge round led by existing investors Sequoia Capital India and Belgium’s Sofina Capital. It is part of a larger $30 Mn Pre-Series C equity round. Korean private equity fund Neoplux and multiple undisclosed family offices will be participating in the round.

At the time, the company’s founder had said that Bira has market shares higher than 5% in terms of overall beer sales and a 20% market share in the premium category. “2020 is a key inflection point for the company where we expect to reach double-digit market share in a number of states through the year,” Jain had added.

Besides B91 Beverages, other major breweries in India are Carlsberg, SABMiller India, Som Distilleries and Breweries ltd and Anheuser-Busch Inbev. The largest brewery in India by market share is the Bengaluru-based United Breweries.

The annual consumption of alcohol has seen an uptick due to changes in demography, high standard of living, and disposable income.

According to a Statista report, alcoholic beverage consumption in India was estimated to grow from 5.4 Bn liters in 2016 to 6.5 Bn liters by 2020. 

Despite the sale of alcohol being banned in a few states, the number of scams related to online sales of alcohol has been increasing.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
UNLOCK 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
UNLOCK 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Exclusive: Bira 91 Raises Fresh Funding From Slew Of Investors-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Exclusive: Bira 91 Raises Fresh Funding From Slew Of Investors-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Exclusive: Bira 91 Raises Fresh Funding From Slew Of Investors-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Exclusive: Bira 91 Raises Fresh Funding From Slew Of Investors-Inc42 Media
Exclusive: Bira 91 Raises Fresh Funding From Slew Of Investors-Inc42 Media
You’re in Good company