Bira 91 raises $25 mn to expand manufacturing biz
The new investment is part of a $50 million round raised by the company, with participation from its existing investor, Kirin Holdings of Japan, and Tiger Pacific Capital from New York, it said in a statement.
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NEW DELHI: B9 Beverages Ltd, Bira 91’s parent company, on Wednesday said it is raising $25 million in new funding from Tiger Pacific Capital, an Asia-focused fund headquartered in New York and Hong Kong.
The new investment is part of a $50 million round raised by the company, with participation from its existing investor, Kirin Holdings of Japan, and Tiger Pacific Capital from New York, it said in a statement. “As Bira 91 takes next steps to drive growth across markets and strengthen its supply chain, this new partnership will strengthen the company’s balance sheet considerably,” said Ankur Jain, founder-CEO, Bira 91. With this capital, “we will expand our manufacturing footprint to new regions, including Uttar Pradesh,” he added. It has six large-scale manufacturing plants in the country.
