Craft beer company B9 Beverages recently announced that it has raised USD 6 million in Series A funding from Sequoia Capital and other marquee investors for its handcrafted beer brand Bira91 (the number stands for India’s country code).
Formally launched in February last year, the beer brand has been able to achieve a penetration of 70 per cent in all its markets within a year of its launch, the company said in a statement. “Growing at an exponential rate, it has achieved a market share of 30 per cent in the premium segment without any extensive marketing strategies,” it added.
“In 2016, we will focus on laying the ground-work in terms of process, team and an effective execution strategy that will require an unstoppable hustle so that we are able to expand our geographical footprint in 2017 and capitalise on the large opportunities ahead of us,” Ankur Jain, B9 Beverages Chief Executive Officer said.
The brand is currently present in seven markets — Delhi, Mumbai, Bengaluru, Kolkata, Goa, Pune and Chandigarh.