Kirin will hold less than 10% stake in Bira 91 following the transaction.
Sources said Bira 91 is being valued at around $300 million.
“Kirin Holding of Japan is investing $30 million with a 50:50 split between equity and debt,” Bira 91 said.
Sequoia is believed to be holding about 45% stake in Bira 91 while founder Ankur Jain owns around 30%. The rest is held by clutch of other investors.
In May last year, after the business took a severe hit due to the Covid-19 pandemic induced lockdown, the company raised $5 million from existing investors Sequoia Capital and Sofina.
Prior to that in April, the company raised $30 million from the two investors with participation from Mumbai-based consumer-focused venture capital fund, Sixth Sense Ventures, South Korean private equity fund Neoplux, and certain family offices.
The company, founded in 2015, has around 10% market share in the Mumbai, Delhi and Bengaluru markets.
“Bira 91 will infuse these funds in business expansion and maintain working capital,” the company said.
It is looking to deploy the entire capital in India, but also has plans for global expansion.
“We will deploy all our capital in India. This partnership gives us an opportunity to lean into Kirin’s international presence to expand our business globally,” it said.
Bira 91 is expecting to launch in Japan prior to the Olympics that is expected to kick off in July.