Bira 91 is back in the news yet again, as Sequoia-backed B-9 Beverages that owns and sells the craft beer company has raised $50 million in the latest round of funding from Brussels investment company Sofina.
However, this isn’t Sofina’s first foray into the Indian market as they had previously backed Flipkart, learning app Byju’s and Hector Beverages, which owns ethnic drinks brand Paper Boat. This latest round of funding is rumored to have increased the value of Bira to 1,300 to 1,400 crores.
When pressed by Economic Times for comment CEO Ankur Jain cited confidentiality clauses and declined to comment. Speaking to ET he said, “The proceeds will be used primarily for expansion of Bira’ distribution in the Indian market, though we have also set foot in key global markets such as the US and Asia Pacific region.”