Indian beer brand Bira 91 has secured $50m of capital through a funding round that was led by Belgian investment firm Sofina.

Established in 2015 by B9 Beverages, Bira 91 has secured more than $100m in funding to date. The company intends to use this funding to expand its business in India over the next three years and also aims to acquire a position in the country’s premium beer market segment.

Additionally, the company is planning to enhance its global footprint with expansion in the US market, as well as in Asia Pacific, including Singapore, Thailand, Hong Kong and Vietnam.

Bira 91 also plans to use the funding to expand its production capacity from the existing 350,000 to 2,000,000 barrels per annum.

Bira 91 founder and CEO Ankur Jain said: “The new capital allows us to think long-term and establish a leadership position in premium beer in India. We also expect to create a meaningful international business in South East Asia and the US.

“We have been impressed by Ankur and the passion driving Bira 91’s management team. This investment is part of our strategy of being a long-term supporter of talented entrepreneurs and like-minded investors in growth markets.”

“We truly believe that Bira 91 is on the ground floor of a massive global opportunity. We are excited to bring on board a fund like Sofina, with origins in Belgian family capital and with a truly long-term horizon as we passionately execute towards our dream of creating a global leader in the space.

“The consistent and rock-solid support by Sequoia India and Abhay Pandey, over the last two years, has been exemplary and we draw a lot of confidence from their belief in our team a third time too!”

Sofina head of Asia Maxence Tombeur said: “Sofina accumulated a long experience investing in consumer goods and brands over the last decades, with investments including Danone, Richemont, Bowers & Wilkins and M. Chapoutier. Sofina is now looking forward to partnering with Bira 91 on a journey to scale their footprint in India and beyond.

With our Belgian roots, we believe there is a great chemistry between our organizations and are proud to back Bira 91 as they are building a leading brand in the underserved premium beer segment. We have been impressed by Ankur and the passion driving Bira 91’s management team. This investment is part of our strategy of being a long-term supporter of talented entrepreneurs and like-minded investors in growth markets.”