Delhi based beer brand Bira 91 has now revealed that it has secured $30 million in the funding led by its existing investors – Sofina and Sequoia India.
The new round also saw participation from Sixth Sense Ventures, NeoPlux – a Korean private equity fund. The new capital will be going to be used to expand in India footprint and consolidate its leadership position in the premium beer market in India, said the announcement.
Speaking on the investment, Ankur Jain, Founder, and CEO, Bira 91 said,
“We continue to grow our business in both existing and new markets. Our shares in several markets are now higher than five percent of overall beer, and more than 20 percent share of premium beer. Along with Boom, our other new launches of Bira 91 IPA with Pomelo and the Malabar Stout have been well received. 2020 is a key inflection point for the company where we expect to reach double digit market shares in a number of states through the year.”