B9 Beverages Pvt Ltd has raised around $8 million from private equity investor Sequoia Capital India Advisors, said Ankur Jain, founder of the company that sells the popular Bira 91 craft beer. With the latest round of funding from Sequoia Capital, B9 Beverages has so far raised around $30 million,
The fund infusion will help the company enter five new markets—the UK, Singapore, Hong Kong, Thailand and the United Arab Emirates by next summer. The company entered the US market in April 2016, debuting in New York City during the Tribeca Film Festival.
Besides, Jain is in process of setting up a third brewery in Rajasthan in India before next summer to triple capacity. “The third brewery will take it to about 12 million cases a year. At present, we sell an average of three million cases a year. By end of this year, we’ll reach full capacity. We need to be ready for the next summer,” said Jain. B9 Beverages currently has two units in Indore and Nagpur with a bottling capacity of about 4.2 million cases a year.
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