More beer mugs will jam! Bira 91 secures $ 50 million from Sofina

Reading Time: 3 minutes Post Views: 3,352 Bira is all set to spread its wings! Crafts beer brand — 9 Beverages, maker of the Bira 91 beer label, has raised almost Rs 335 crore (USD 50 million) from Belgian investment firm Sofina. With fresh capital infusion, the Sequoia Capital backed company’s valuation is expected to range between Rs 1,300 – Rs, 1400 crore. Existing investor Sequoia Capital which held a majority of stake in Bira, too participated in the current round of funding. Post the funding round Sequoia’s stake is expected to fall below…

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