Craft beer maker B9 Beverages, the parent company of Bira 91, has raised INR 11.5 Cr in Series C funding from several investors. Earlier this year, B9 Beverages had raised $20 Mn in a Pre-Series C funding round
The company has raised the funds by issuing 3,00,958 Series C1 Cumulative Compulsorily Convertible Preference Shares (CCPS) at a face value of INR 100 per share and a premium of INR 287 per share.
As one of the fastest growing beers in the world, Bira 91 has built a strong portfolio of essential beers and aims to drive the global shift in beer towards more colour and flavor. In less than three years, Bira 91 is now in the top 25 craft beer brands worldwide by sales volume and the fastest growing beer brand in the world (growing 5x in 2017). The company now operates two breweries in India, and has offices in nine cities including New York City.