Craft beer maker Bira 91 gets $10 million from Japanese bank MUFG

Indian craft beer maker B9 Beverages which sells beer under the brand name Bira 91, has received $10 million funding from Japanese bank MUFG. The new investment comes after more than three months when the Delhi-based company Bira 91 raised $70 million in a Series D round led by Japan's beer-making firm Kirin Holdings Co. 

Bira 91 plans to use the money to expand its supply chain, scale up manufacturing and strengthen its innovation capacity. 

"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 in India as well as across the globe," said Yasuhide Hayashi, executive officer at MUFG Bank.

Craft beer is generally produced in small batches. They make less beer than large breweries with a special recipe and higher alcohol content than regular beers. These breweries' main focus is on zeal, novel flavours and a variety of brewing techniques. 

India's fourth-largest brewery Bira 91 has tripled its pre-Covid sales and now commands a 5 per cent market share in India's most important marketplaces. It has five manufacturing facilities in the country and has a presence in around 550 towns and 18 countries across the globe. 

“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,” said Ankur Jain, CEO, Bira 91. 

The other beer players in the Indian market include Carlsberg Group, Anheuser-Busch InBev, Sinq Beverage Pvt Ltd, Heineken N.V. among others.