Bira 91 raises $4.3 million funding from Sixth Sense Ventures

Craft beer company Bira 91, owned by B9 Beverages Pvt Ltd, has raised $4.3 million in its Pre-Series C round from Sixth Sense Ventures, the consumer-focused venture capital firm. The transaction has valued the company at $246 million.

Sixth Sense Ventures has been allotted five lakh Pre-Series C preference shares for Rs 30 crore.

So far, Bira 91 has raised $74 million in funding from angel investors including Bollywood bigwigs Farhan and Zoya Akhtar, Ritesh Sidhwani, as well as prominent names in the tech sector like Flipkart’s Chief Executive Kalyan Krishnamurthy.

In April, Bira 91 entered into the mass beer market with the introduction of a sub-brand Boom. Presently, Boom is available in Maharashtra, Karnataka, Madhya Pradesh, Haryana, Uttar Pradesh, and West Bengal.

The company is expecting to expand its production footprint five-fold to 2,000,000 barrels before the summer of 2019, from its current capacity of 350,000 barrels.