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33&Brew raises Rs 20 Cr in Series A round led by Optimistic Capital

EntrackrEntrackr ยท 16d ago
33&Brew raises Rs 20 Cr in Series A round led by Optimistic Capital
Medial

Vinyl-themed microbrewery 33&Brew has raised Rs 20 crore ($2.2 million) in a Series A funding round led by Optimistic Capital. The venture capital firm had earlier announced a Rs 200 crore beer-focused fund dedicated to the microbrewery sector. The fund has deployed Rs 30 crore across its initial investments, with the remaining Rs 170 crore earmarked for deployment over the next three years. The capital will support bottling, kegging, and other craft beerโ€“adjacent operations. As an owner-operator fund, it targets growth in Indiaโ€™s craft beer sector, with participation from investors in the Middle East and Africa (MEA) and India. The proceeds will be used for construction and expansion, 33&Brew said in a press release. Founded last year by Karthik Chandrasekaran, 33&Brew is a vinyl-themed microbrewery that combines craft beer with a curated vinyl record collection (33โ…“ RPM). The outlet offers a progressive Indian menu in a music-focused setting and was conceptualised in collaboration with chef Sabyasachi Gorai. According to the company, guests can select and play vinyl records, creating a personalised music experience alongside their drinks. The brand offers a progressive Indian menu with global influences, along with craft beers, signature cocktails, and a curated food selection. 33&Brew said it aims to combine craft brewing with analogue music culture to differentiate itself in Bengaluruโ€™s brewery market. Optimistic Capital focuses exclusively on the craft beer sector and offers structured investment opportunities for retail and institutional investors. The firm plans to invest in two additional microbreweries in central Bengaluru.

Bira 91 closes $50 Mn round from Kirin Holdings and Tiger Pacific

EntrackrEntrackr ยท 1y ago
Bira 91 closes $50 Mn round from Kirin Holdings and Tiger Pacific
Medial

Craft beer maker Bira 91 has raised $25 million via ECB (External Commercial Borrowing) from its existing investor Kirin Holdings. With this infusion, the firm has mopped up $50 million in the past three months. It raised $25 million from Tiger Pacific Capital in March. The board at Bira has passed a resolution to raise $25 million via ECB (external commercial borrowings) from Kirin Holdings in two tranches of $12.5 million each, its regulatory filing accessed from the Registrar of Companies shows. According to the filings, Bira91 has also given the option to Kirin Holdings to convert that above-raised ECB into Series D CCPS. Tiger Pacific had reportedly acquired 4% stake in Bira 91 and the company was valued at around $600 million pre-money. Entrackrโ€™s sources also added that Bira 91 raised nearly Rs 100 crore ($12 million) via non-convertible debentures in the last four months. Bira 91 has raised around $350 million to date including its $70 million Series D round led by Japanese integrated beverages company Kirin Holdings in November 2022. According to the startup data intelligence platform TheKredible, Peak XV (formerly Sequoia Capital) was the largest external stakeholder of Bira 91 with 24.83% followed by Kirin Holdings which owned 21.25% of the company as of its last equity fundraise. Bira 91 produces a range of beer variants, including Bira White, Gold, Bira Blonde, and Boom Super Strong, among others. The company operates in more than 1,000 towns across 25 countries and brews its beer at six manufacturing units in India. While the company is yet to disclose its last fiscal numbers, Bira 91 achieved a 17% year-on-year growth in its scale during FY23 and its revenue neared Rs 850 crore. It also incurred a loss of Rs 446 crore during the fiscal year ending March 2023.

In pubs and homes, Biraโ€™s beers were the toast of one & all. Then this happened

LivemintLivemint ยท 1y ago
In pubs and homes, Biraโ€™s beers were the toast of one & all. Then this happened
Medial

A recent Instagram post by independent music artist, Tarana Marwah, has sparked controversy against Bira 91 Taproom, a bar business associated with the popular beer brand Bira 91. Marwah accused Bira 91 Taproom of being unprofessional and disrespectful after cancelling an event in New Delhi and not paying the advance and cancellation fees. Bira 91 Taproom countered these claims, stating that they did not cancel the performance, and offered alternative dates when the artist's management failed to fulfill their obligations. This incident has brought attention to the issue of delays in payments by B9 Beverages, the company behind Bira 91, with several musicians and businesses claiming unpaid dues.

Medusa Beverages raises Rs 56 Cr in Series A funding

EntrackrEntrackr ยท 1y ago
Medusa Beverages raises Rs 56 Cr in Series A funding
Medial

Medusa Beverages, a craft and premium beer brand, has raised Rs 56 crore ($6.6 million) in a Series A funding round co-led by Amal N. Parikh and Ashwin Kedia, with participation from Ramesh Damani, Nikhil Garg, Crest Opportunities, and other high-net-worth individuals (HNIs). The proceeds will be used to scale operations and strategically invest in synergistic partnerships across the value chain, Medusa Beverages stated in a press release. Founded in 2017 by Avneet Singh, Medusa Beverages is an Indian beer brand offering high-quality brews with bold flavors. The brand combines distinctive taste profiles with striking aesthetics to create a memorable beer experience. Specializing in a variety of lager beers, it caters to diverse palates, appealing to beer enthusiasts who value both quality and innovation. Medusa claims to have achieved market leadership in Delhiโ€™s crown market within just five years of its product launch. The company aims to strengthen its market presence and continue its trajectory toward becoming a leader in the Indian alco-bev space. Medusa plans to expand operations, build a diverse portfolio of brands, and solidify its presence in key markets. The company is committed to focusing on growth, innovation, and delivering high-quality products to its consumers. The Delhi-based company reports having a presence in Delhi, Punjab, Uttar Pradesh, Chhattisgarh, and Himachal Pradesh. It also operates a brewery in Punjab. It competes with other players in this space, such as Goa Brewing, White Owl, Drink Monday, Bira 91, Amara Breweries, Foo Brew, among others.

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