NEWS
INDIAN CRAFT BREWER BIRA 91 SECURED USD10M FROM JAPAN’S MUFG BANK
By Siulan Law Mathews DipWSET
15-3-2023
Source: Bira 91
Indian craft beer maker Bira 91 has raised USD10 million from Japan's largest bank MUFG to expand its production, bolster supply chain and enhance innovation capabilities.
The fast growing Indian brewer has secured an investment of USD70m from Japanese beer giant Kirin last November.
Established in 2015, Bira 91 is a modern Indian beer brand which aspires to bring flavourful beers to the younger generation.
Executive Officer of MUFG Bank, Yasuhide Hayashi, 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."
According to Bira 91’s website, the company was backed by Sequoia Capital India, Sofina of Belgium and Kirin Holdings of Japan before investment from MUFG Bank.
It brews its beers across five breweries in India and is selling beers to over 500 towns and cities spread across 15 countries.
It has a flagship taproom in Bangalore, where it releases one new experimental beer every week, paired with its curry-shop menu.
Craft beer sales are on the rise in India as younger, affluent consumers in big cities choose brands that use fresher ingredients to make lighter brews.
Bira reported an operating loss of USD4m in the quarter to June 2022, although net sales revenue grew 132 percent to reach USD20m, according to Reuters news agency.
(the writer can be contacted at: info@thewinechronicle.com)
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