Khaitan & Co advised B9 Beverages Private Limited in relation to issuance of Pre-Series C compulsorily convertible cumulative preference shares.
B9 Beverages – doing business as Bira 91 – has raised $4.3 million in a pre-Series C round. The company has raised the money from Sixth Sense Ventures, a domestic venture capital fund focusing on consumer investments.
B9 Beverages valuation currently stands at $246 million with Sequoia as its largest single investor.
The startup last raised $50 million in May 2018 from Belgian investor Sofina.
Founded by Delhi-based Ankur Jain, Bira’s other investors in the include Chennai-based asset management firm Anicut Capital; General Atlantic managing director Shantanu Rastogi and senior vice-president Alok Misra; Naik Family Trust 2013; Kunal Bahl and Rohit Bansal, co-founders of e-commerce firm Snapdeal; Ashish Dhawan, co-founder of private equity firm ChrysCapital; Mayank Singhal, venture investor with RNT Capital Advisors; and Deepinder Goyal, founder of restaurant discovery platform Zomato.
Khaitan & Co advised B9 Beverages Private Limited with a team including Mayank Singh (Picture), Nidhi Killawala and Kairavi Shah.
Law Firms: Khaitan & Co.;
Clients: B9 Beverages Pvt. Ltd.;