Indian craft beer company B9 Beverages has raised $6 million in Series A round of funding. Investors include Sequioa Capital, Snapdeal founders Rohit Bansal and Kunal Bahl, Ashish Dhawan from Chrys Capital and Zomato co-founder Deepinder Goyal.
“Bira91 is a cool ‘Indian’ brand. We are excited about backing the challenger in a large category with nice customer cohorts on basket size, retention and frequency,” said Abhay Pandey, MD, Sequoia Capital. This is the first time Sequoia Capital has invested in an alcoholic beverage company.
The company sells hand-crafted beer Bira91 and it claims to have penetrated 70% in all its markets within a year of launch. It said its competitors in the draught beer segment will have to bridge a 3x gap that exists between them and B9 Beverages. It claims to have a stronghold in seven cities including Delhi, Mumbai, Bangalore, Kolkata, Goa, Pune and Chandigarh.
“Perhaps the most important factor in our early success has been the strong word-of-mouth that Bira91 has received. Consumers love Bira91, recommend us to people they know, leading to a potentially exponential network effect bordering on a contagion.
This kind of strong word-of-mouth has been elusive for almost everyone and this puts Bira91 in an extremely unique position full of limitless opportunity and serious responsibility in the coming years,” said Ankur Jain, CEO, B9 Beverages.