[Funding alert] Bira 91 Secures $10 million from MUFG Bank
The largest bank in Japan, MUFG Bank, Ltd., has invested $10 million to Bira 91. The investment follows the company’s previous Series-D capital round of $70 million, which was spearheaded by the Japanese brewer Kirin Holdings Co.
This investment demonstrates a firm belief in Bira 91 and its potential for growth. According to a release, the beer brand’s market share has tripled from pre-covid levels as it continues to expand quickly, as per reported by The Economic Times.
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“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,” Ankur Jain, CEO, Bira 91, said.
Bira 91 was founded in 2015 and is supported financially by Sequoia Capital India, Sofina of Belgium, and Kirin Holdings of Japan. It is powered by a vibrant staff of over 550 beer enthusiasts who are passionate about the beverage.
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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.
About Bira 91
Bira 91 is a flavourful beer brand that is refreshingly contemporary and was created in India. With a varied array of award-winning beers, one for every occasion, and as one of the world’s fastest-growing brands, Bira 91 aspires to lead the movement towards greater color and taste in beer.
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