A homegrown beer startup, Proost, which was co-founded by Tarun Bhargava and Vijay P. Sharma in 2017 has raised Rs 30 crore in its ongoing Series-A funding round. The funding round was co-led by Chimes Group and Srinivasan Namala, wherein, the round also witnessed participation from Hyderabad Angels, The Chennai Angels, and other noteworthy HNIs. Back in October 2023, the Delhi-based beer brewing firm had previously closed its pre-Series A round after raising Rs 25 crore which comes to about USD 3 million.
Furthermore, Proost highlighted in a press release that the fund would be used to strengthen this startup’s supply chain, expand operations across new markets, drive product portfolio, and invest in brand-building activities.
If we speak of Proost, it is an innovative beer brand that has been on a focus to disrupt the Indian beer market. Its beers are known in the market for its premium quality, low bitterness, and high drinkability. The company has also signified that it sources 99 percent of its raw materials locally while ensuring a premium, refreshing experience for beer enthusiasts.
By introducing newer variants aligned with evolving consumer demands and industry trends, Proost also intends to enhance its product range. Additionally it claims to have a robust presence in retail outlets across various states which include Delhi, Punjab, Uttar Pradesh, Kerala, Jharkhand, and Karnataka. Adding to this, the brand is also targeting a 5 percent market share in the Indian beer industry by the end of the decade. This would be backed by its keen eye on innovation, customer-centric product development, and strategic market expansion.
Currently, Proost competes with the likes of Goa-based Maka Di, Arbor Brewing Company, Kati Patang, Witlinger, Bira 91, Simba, among others.
