India: Bira 91 raises $5m from Sequoia India, Sofina

India: Bira 91 raises $5m from Sequoia India, Sofina

Photo: Reuters

Bira 91, a craft beer brand manufactured by B9 Beverages Pvt. Ltd, has raised Rs 38.08 crore ($5 million) from its existing investors, Sequoia India and Belgium-based investment firm Sofina, according to a report by INC42.

The company, established in 2015, has reportedly raised the funding in two tranches this month, thereby offering a total of 6,34,740 preference shares at a face value of Rs 15 with a premium of Rs 585 per share worth Rs 38.08 crore, the report added.

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