Bira 91 craft beer maker has raised $25 million via ECB (External Commercial Borrowing) from its existing investor Kirin Holdings. With this funding, the firm has mopped up $50 million in the past three months. It raised $25 million from Tiger Pacific Capital in March.

The board at Bira has passed a resolution to raise $25 million via ECB (external commercial borrowings) from Kirin Holdings in two tranches of $12.5 million each, its regulatory filing accessed from the Registrar of Companies shows.

Bira91 has also given the option to Kirin Holdings to convert that above-raised ECB into Series D CCPS. Tiger Pacific had reportedly acquired 4% stake in Bira 91 and the company was valued at around $600 million pre-money.

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Startup news Platform Entrackr’s sources also added that Bira 91 raised nearly Rs 100 crore ($12 million) via non-convertible debentures in the last four months.

Bira 91 has raised around $350 million to date including its $70 million Series D round led by Japanese integrated beverages company Kirin Holdings in November 2022.

Bira 91 produces a range of beer variants, including Bira White, Gold, Bira Blonde, and Boom Super Strong, among others. The company operates in more than 1,000 towns across 25 countries and brews its beer at six manufacturing units in India.

According to the startup data intelligence platform TheKredible, Peak XV (formerly Sequoia Capital) was the largest external stakeholder of Bira 91 with 24.83% followed by Kirin Holdings which owned 21.25% of the company as of its last equity fundraise.

Bira 91 achieved a 17% year-on-year growth in its scale during FY23 and its revenue neared Rs 850 crore. It also incurred a loss of Rs 446 crore during the fiscal year ending March 2023.

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