Craft beer producer Bira 91 has obtained $25 million through an External Commercial Borrowing (ECB) from Kirin Holdings, an existing investor. This recent funding brings Bira 91's total capital raised in the last three months to $50 million, following a $25 million investment from Tiger Pacific Capital in March.

The company's board approved the $25 million ECB from Kirin Holdings in two $12.5 million tranches, according to regulatory filings accessed from the Registrar of Companies. The documents also reveal that Kirin Holdings has the option to convert this ECB into Series D Compulsorily Convertible Preference Shares (CCPS).

Tiger Pacific Capital's recent investment secured a 4% stake in Bira 91, valuing the company at approximately $600 million pre-money. Additionally, sources indicate that Bira 91 raised around Rs 100 crore ($12 million) through non-convertible debentures over the past four months.

To date, Bira 91 has garnered approximately $350 million in funding, including a $70 million Series D round led by Kirin Holdings in November 2022. Data from TheKredible, a startup intelligence platform, lists Peak XV (formerly Sequoia Capital) as the largest external stakeholder with a 24.83% share, followed by Kirin Holdings with 21.25%.

Bira 91 offers various beer types, such as Bira White, Gold, Bira Blonde, and Boom Super Strong. The company operates across more than 1,000 towns in 25 countries and produces its beer at six facilities in India.

While the company's latest fiscal figures remain undisclosed, Bira 91 recorded a 17% year-on-year growth in FY23, with revenues approaching Rs 850 crore. However, the company also reported a loss of Rs 446 crore for the fiscal year ending March 2023.