Indian brewer B9 Beverages gets $50m
B9 Beverages, an Indian brewer that markets craft beer under the brand Bira 91, has received $50 million in Series B funding led by Belgium’s Sofina.
Additional backers included Sequoia Capital, which invested $8 million last year. The latest investment reportedly values the company at around $210 million, with Sofina and B9 Beverages CEO Ankur Jain taking stakes of 28% and 30%, respectively.
“The new capital allows us to think long-term and establish a leadership position in premium beer in India,” Jain told The Economic Times. “We also expect to create a meaningful international business in Asia and the US.”
Founded in 2015, B9 markets beer in both draft and bottle formats primarily to a young urban market. It operates via two breweries in India and has offices in nine cities internationally, including New York. It has previously flagged expansion ambitions in the UK, Singapore, Hong Kong, Thailand, and the United Arab Emirates.
Previous investment includes a $10 million round supplied by TR Capital in 2016, as well as a $6 million commitment in 2015 from Sequoia and a number of individual investors.
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