Proost, a domestic beer brand established in 2018 by Tarun Bhargava and Vijay P. Sharma, has raised 30 crores in the Series-A investment round.
Hyderabad Angels, Chennai Angels, and other prominent HNIs participated in the venture, which was spearheaded by Chimes Group and Srinivasan Namala.
Commenting on this achievement, Tarun Bhargava, Co-Founder & CEO of Proost, said, “We are thrilled to announce this new round of funding, which represents a significant step forward in Proost’s journey. With these funds, we will focus on expanding into strengthening our production capacity, expanding into a few new markets while also ensuring that we go deeper into our existing ones on the back of brand building.”
He further added, “This is Tranche-1 of our ongoing Series A round and it’s great to see 90% of the round size being mopped by our existing investors. Our commitment to delivering value to our stakeholders remains unwavering, and this investment brings us closer to our goal of capturing a substantial share of the Indian beer market by the end of the decade.”
The money will strengthen Proost’s financial base and play a key role in its growth into new areas. With a significant presence in retail establishments in Delhi, Punjab, Uttar Pradesh, Kerala, Jharkhand, and Karnataka, Proost, which operates under the Grano69 Beverages banner, has established itself in the beer sector.
By the end of the decade, the brand hopes to have 5% of the Indian beer market thanks to strategic market expansion, customer-focused product development, and innovation.
