Proost Beer Raises INR 25 Crore in Pre-Series A Funding In April, Proost Beer secured funding of INR 8.5 crore. It aims to capture a five per cent plus share of the Indian beer market by 2030.
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Proost Beer, a 2017-founded beer brewing start-up, has raised INR 25 crore in a Pre-Series A funding round through a mix of Equity and Debt. The start-up will utilize the raised funds for its strategic expansion plans.
The funding saw participation from the likes of Chimes Group, Dev Punj, The Chennai Angels, Finvolve, India Accelerator, Hyderabad Angels, Mumbai Angels, Angel List India, and Agility Venture.
"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," said Vijay P. Sharma, Co-Founder & Managing Director, Proost Beer.
Operating under the umbrella of Grano69 Beverages Pvt. Ltd in Delhi, Proost Beer offers three variants- The White Ale, The Mild Langer, and The Domestic Strong Beer.
"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," shares Tarun Bhargava, Co-Founder & CEO, Proost Beer.
Presently, the beer start-up enjoys a strong presence in Delhi, Punjab, Uttar Pradesh, and Kerala and claims to sell nine units of beer every minute.
In April, Proost Beer secured funding of INR 8.5 crore. It aims to capture a five per cent plus share of the Indian beer market by 2030.