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| Total Fund Raising - Bira91 |
The Delhi-based Bira 91 under its company B9 Beverages has raised $ 20 million in a bridge round through Sequoia Capital and Sofina. In 2019, the company had raised some $4.3 million is a pre-Series C round led by Sixth Sense Ventures. After this deal, the company was valued at $246 million.
In all, the company has raised a total of $130 million through different funding rounds. As per ET, the capital will help in the business expansion of Bira 91. The company plans to focus on increasing its market share in the premium section, Currently, the craft maker claims to hold 5% of the overall beer market and around 20% in the premium beer section in India.
With lockdown affecting the business across the country, the food and beverages industry has been majorly hit due to the closedown of pubs and restaurants across the country. Recently, during a webinar with Exchange for media, Deepak Sinha, VP-Marketing, Bira9 said, "It is about doing what is right for your brand. So staying top of the mind in a cost-effective way is critical. We also had a moment of-- what we do, what we say, how often should we communicate, but what we realise is that consumers want to hear from you and not take advantage of the situation."
In FY19-2, the company's revenue had grown by 15.4% to Rs 183 crore. It also had losses of about Rs 202.2 crore.
| Sandip
Ginodia , Director ALTIUS INVESTECH PVT LTD We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 . Email : ginodiasandip1@gmail.com |
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