Bira 91 raises $70 million in Kirin-led funding round

Bira did not say what its valuation or Kirin’s stake would be after the funding round, but said it would use the funds to build new breweries and expand existing facilities, increasing its footprint, which spans 550 towns in 18 countries.Kirin, which first invested $30 million in Bira for an under 10% stake last year, was set to pump in the additional funds for an around 15% stake at an equity valuation of $450 million, Reuters reported in September.