Introduction:
B9 Beverages Ltd, the parent company of Bira 91, has secured $25 million in new funding from Tiger Pacific Capital, as part of a larger $50 million round. The investment will fuel Bira 91's expansion efforts and enhance its supply chain capabilities.
Key Points:
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Funding Details: B9 Beverages Ltd is raising $25 million in new funding from Tiger Pacific Capital, an Asia-focused fund based in New York and Hong Kong. This investment is part of a larger $50 million round, with participation from existing investor Kirin Holdings of Japan.
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Strategic Growth: Ankur Jain, Founder and CEO of Bira 91, stated that the new funding will support the company's growth initiatives across markets and strengthen its supply chain. The capital infusion will enable Bira 91 to expand its manufacturing footprint, including venturing into regions like Uttar Pradesh.
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Manufacturing Expansion: Bira 91 currently operates six large-scale manufacturing plants in India. With the additional capital, the company aims to establish a presence in new regions, enhancing its production capabilities to meet growing demand.
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Market Position: Despite being relatively young, Bira 91 has emerged as the fourth largest beer company in India, trailing behind multinational giants like Heineken, AB-Inbev, and Carlsberg. The brand has achieved strong double-digit growth since its inception nine years ago.
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Diversified Portfolio: In addition to its brewing operations, Bira 91 owns The Beer Cafe, the largest beer-focused pub chain in India. This diversified portfolio underscores the company's comprehensive approach to capturing market share and engaging consumers.
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Partnership Outlook: Run Ye, Founder of Tiger Pacific Capital, expressed enthusiasm for partnering with innovative Indian brands like Bira 91. He emphasized the company's unique understanding of the Indian consumer landscape and its robust local manufacturing presence.
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Investor Backing: Founded in 2015, B9 Beverages has garnered support from prominent investors, including Kirin Holdings, MUFG Bank, Sofina, and Peak XV Partners (formerly Sequoia India), reflecting confidence in its growth potential and strategic vision.
Conclusion:
Bira 91's latest funding round underscores its commitment to expansion and innovation within India's competitive beer market. With Tiger Pacific Capital's backing, the company aims to strengthen its manufacturing capabilities, expand into new regions, and reinforce its position as a leading player in the industry. As Bira 91 continues to leverage its unique brand proposition and local expertise, it remains poised for sustained growth and market leadership in the years ahead.
