On Tuesday, Premium beer company Bira 91 announced that it had raised a $70 million Series D round led by leading Japanese beer company Kirin Holdings.

The funds will be used to expand Bira 91’s production capacity by commissioning the new brewery and expanding existing facilities.

The company said in a statement, the funding will also increase the company’s domestic and international distribution footprint and further strengthen Bira 91’s product development and innovation capabilities.

“As the fifth largest economy in the world, with increasing digitization and a stable, growth-oriented government, we are very excited to further invest in the country’s ‘Make in India’ journey,” said Hiromasa Honda, Managing Director, Kirin Holdings Singapore.

Bira 91 recently announced its aim to become the country’s first carbon-neutral beer company and opened the B9-Kirin Sustainability Centre outside its New Delhi headquarters.

One of the youngest players in the market, the brand has achieved double-digit shares in several key markets and has become the fourth-largest beer company in India.

Launched in 2015, Bira 91 has a portfolio of 10 different flavours, and its bar offers a wide selection of seasonal beers. The company recently announced the acquisition of The Beer Cafe. Bira 91 operates in 550 cities and towns in 18 countries around the world.