Craft beer maker Bira 91 raises $25M from existing investor Kirin Holdings
Craft beer maker Bira 91 has raised $25 million in funding through External Commercial Borrowing (ECB) from its existing investor Kirin Holdings.
The funding marks the conclusion of a larger $50 million round that the company has been pursuing over the past three months. The latest tranche follows a previous $25 million investment from Tiger Pacific Capital in March.
The board at Bira has passed a resolution to raise $25 million via ECB (external commercial borrowings) from Kirin Holdings in two tranches of $12.5 million each, Entrackr reported citing the regulatory filing accessed from the Registrar of Companies.
Kirin Holdings has the option to convert this ECB into Series D Compulsorily Convertible Preference Shares (CCPS) at a later date. This structure offers flexibility for Kirin Holdings while providing immediate capital for Bira 91.
The recent $25 million investment by Kirin Holdings, combined with the earlier $25 million from Tiger Pacific Capital, brings Bira 91’s total funds raised in the past three months to $50 million. This Delhi-based startup, Bira91 has raised over $450 million so far from inventors including Peak XV, Sixth Sense Ventures and others.
About Bira 91:
Bira 91, founded by Ankur Jain in 2015, has established itself as a prominent craft beer brand in India. The company offers a variety of beer products, including Bira White, Gold, Bira Blonde, and Boom Super Strong. Bira 91 operates six manufacturing units in India and has a presence in over 1,000 towns across 25 countries. The brand is known for its modern, flavorful beers and aims to cater to a global market with its unique offerings.
