Proost Beer raises INR 25 Crore in Pre-Series A Funding
Proost Beer, a fast-growing brewery in India, has successfully concluded its Pre-Series A funding round, securing a significant INR 25 crore through a mix of equity and debt. The investment is backed by a blend of existing and new investors, including Chimes Group, Dev Punj, The Chennai Angels, Finvolve, India Accelerator, Hyderabad Angels, Mumbai Angels, Angel List India, and Agiliti Venture. The fresh infusion of funds will play an important role in Proost Beer's strategic expansion plans. The startup operates under the umbrella of Grano69 Beverages Pvt Ltd in Delhi and has a strong presence in Delhi, Punjab, Uttar Pradesh, and Kerala retail outlets, selling an impressive nine units of beer every minute.
Vijay P. Sharma, Co-Founder and Managing Director of Proost Beer expressed his enthusiasm, stating, “The successful conclusion of this funding round empowers us to enhance our production capabilities and venture into new markets. We are highly optimistic about the industry’s growth potential, driven by the increasing consumer appetite for innovative, high-quality products.With this funding, we anticipate achieving a remarkable 300% growth”. Introduced in 2017, Proost Beer is on a mission to capture a substantial 5%+ share of the rapidly enlarged Indian Beer Market by the end of this decade. In an ever-evolving beer landscape, Proost has appeared as a distinguished player committed to revolutionizing the consumer experience with its range of mass premium and affordable beers.
Tarun Bhargava, Co-Founder & CEO of Proost Beer, expressed his excitement, stating, “We are thrilled to see the strong vote of confidence from both our existing and new investors. This endorsement underscores the strength of our business and sets the stage for the next phase of growth for Proost Beer”.Known for its unwavering commitment to quality and a deep passion for the art of brewing, Proost Beer offers a curated selection of beers, with its flagship product, Proost Strong Beer, leading the way. Brewed with precision and care, Proost Beer proudly sources most of its raw materials locally and is proudly 100% made in India.
Vijay P. Sharma, Co-Founder and Managing Director of Proost Beer expressed his enthusiasm, stating, “The successful conclusion of this funding round empowers us to enhance our production capabilities and venture into new markets. We are highly optimistic about the industry’s growth potential, driven by the increasing consumer appetite for innovative, high-quality products.With this funding, we anticipate achieving a remarkable 300% growth”. Introduced in 2017, Proost Beer is on a mission to capture a substantial 5%+ share of the rapidly enlarged Indian Beer Market by the end of this decade. In an ever-evolving beer landscape, Proost has appeared as a distinguished player committed to revolutionizing the consumer experience with its range of mass premium and affordable beers.
Tarun Bhargava, Co-Founder & CEO of Proost Beer, expressed his excitement, stating, “We are thrilled to see the strong vote of confidence from both our existing and new investors. This endorsement underscores the strength of our business and sets the stage for the next phase of growth for Proost Beer”.Known for its unwavering commitment to quality and a deep passion for the art of brewing, Proost Beer offers a curated selection of beers, with its flagship product, Proost Strong Beer, leading the way. Brewed with precision and care, Proost Beer proudly sources most of its raw materials locally and is proudly 100% made in India.
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