Proost Beer, a rising star in India’s beer industry, has successfully closed its Pre-Series A funding round securing a significant US $1.8 million in through a mix of Equity and Debt.
This significant investment, supported by both 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, positions the company for significant growth.
The fresh capital infusion will play a pivotal role in Proost Beer’s strategic expansion plans. Operating under the Grano69 Beverages Pvt. Ltd umbrella in Delhi, the startup has already established a strong presence in Delhi, Punjab, Uttar Pradesh, and Kerala retail outlets, where it sells an impressive 9 units of beer every minute.
Vijay P. Sharma, Co-Founder & Managing Director of Proost Beer, said, “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.”
Founded in 2017, Proost Beer is on a mission to capture a substantial 5%+ share of the rapidly expanding Indian Beer Market by the end of this decade. In a constantly evolving beer landscape, Proost has distinguished itself as a player dedicated to revolutionizing the consumer experience with its range of mass premium and affordable beers.
Tarun Bhargava, Co-Founder & CEO of Proost Beer, said, “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.
With this substantial pre-Series A funding, Proost Beer is primed to disrupt the Indian beer market and achieve a dominant position by the end of the decade. Cheers to Proost’s journey towards industry dominance!