A pioneering brewery startup, announced a successful fundraise of Rs 8.5 crore from Mumbai Angels, affirming its expanding trajectory in the beverage industry. The funding round witnessed participation from Hyderabad Angels, Finnvolve, Speed Funding AngelList India, and Friends and Family. Notable current investors include Dauble PTE and Dev Punj.

The latest capital infusion will fuel Grano69 Beverages’ strategic plans to expand its geographical presence and augment its production capacity, setting the stage for accelerated growth in the market. Nandini Mansinghka, CEO of Mumbai Angels, expressed her confidence in Grano69 Beverages’ potential, stating, “The brand’s steady growth is indicative of its high potential, and we are confident that this funding will enable them to grow further and gain a significant share of the market.”

Founded in 2017, Grano69 Beverages has made impressive strides in the Indian beer industry and established its brand, Proost beers. The premium beers have earned popularity and are presently available in 1500 retail outlets across four states Delhi, Uttar Pradesh, Kerala, and Punjab.

With the new funds, Grano69 Beverages aims to expand its total production capacity to 1,50,000 cases per month, empowering the brand to meet the growing demand and reach a broader consumer base. The company’s commitment to crafting exceptional and distinctive beers has garnered a strong following among consumers.

Speaking on the investment, a representative from Hyderabad Angels said, “We are delighted to be a part of Grano69 Beverages’ growth journey. The company’s innovative approach and dedication to quality have resonated with the market. We believe this funding will propel them to greater heights in the industry". Grano69 Beverages is determined to leverage this investment to further establish its presence in the market and continue offering consumers a delightful and unique beer experience.