In its current Series-A funding round, which is being led by Srinivasan Namala and Chimes Group, Proost, a domestic beer startup that was co-founded in 2017 by Tarun Bhargava and Vijay P. Sharma, has raised Rs 30 crore. The Chennai Angels, Hyderabad Angels, and other HNIs also participated in the round.
In October 2023, the Delhi-based beer brewing company raised Rs 25 crore, or roughly $3 million, to close its pre-Series A round.
According to a press release from Proost, the new money will be used to improve its product line, strengthen its supply chain, enter new markets, and make investments in brand-building initiatives.
Proost is a creative beer company that wants to upend the Indian beer industry. Its premium quality, low bitterness, and high drinkability are well-known attributes of its beers. According to the company, 99% of its raw materials are sourced locally, and it guarantees beer lovers in all of its markets a premium, refreshing experience.
By adding more recent models that are in line with changing consumer needs and market trends, Proost hopes to expand its product line. It asserts that it is well-represented in stores in Delhi, Jharkhand, Karnataka, Kerala, Punjab, and Uttar Pradesh. With the support of innovation, customer-focused product development, and strategic market expansion, the brand hopes to achieve a 5% market share in the Indian beer industry by the end of the decade.
Maka Di, a company based in Goa, Arbor Brewing Company, Kati Patang, Witlinger, Bira 91, Simba, and others are its competitors.
