With strong demand for the alcoholic beverage, Indian craft beer maker Bira 91 raised $70 million in funding, led by Japanese brewer Kirin Holdings Co Ltd. Bira faces up against brands like Carlsberg and Heineken-owned United Breweries NSE 0.59% in India’s projected $5 billion beer market. As younger, wealthier consumers pick brands and bars that serve lighter brews with fresher ingredients, craft beer sales are rising in India. As the local population shrinks and younger generations drink less than in past decades, big beverage businesses in Japan are being forced to grow internationally or explore new markets, prompting Kirin to make the investment.
Indian craft beer maker Bira 91 raised $70 million in funds led by Kirin Holdings Co Ltd
