Proost Beer Raises INR 8.5 Cr from Mumbai Angels, Hyderabad Angels, Others

Delhi based Proost Beer has raised a whopping INR 8.5 crores in the round, which was spearheaded by Mumbai Angels, Hyderabad Angels, Speed Fund, GetVantage, Finnvolve, and other prominent angel investors.

Proost Beer's existing investors Dauble PTE and Dev Punj also participated in the round, highlighting their continued support and belief in the company's growth potential.

“The recent investment from existing and new investors indicates their trust and confidence in our business approach and strategy. This latest investment is part of a larger fundraising plan and will enable us to expand our production capacity and penetrate new states. We are optimistic about the industry's growth potential, especially considering consumers' increasing willingness to try out new, high-quality products. With this funding, we anticipate achieving 300% growth in the current financial year, FY 23-24,” said Mr Vijay P Sharma, MD & Co-founder of Proost Beer.

The brand that got featured in Shark Tank India will use the funds to expand its production capacity, venture into new markets, and fulfil its working capital requirements.

The company is optimistic about utilising these funds to drive its growth trajectory and strengthen its position as a leading beer brewing company in India.

This fundraising success also underscores the investors' trust and confidence in Proost Beer's innovative brewing process and recipe, which delivers a premium quality beer with a unique flavour profile at an affordable price point.

“We are delighted to have secured this funding round and this comes as a validation from our investors on our business model, this will allow us to ramp up our production and expand our reach in the market. We look forward to bringing our beer to even more consumers across India,” shared Tarun Bhargava, CEO & Co-founder of Proost Beer.

Started in 2017 Proost Beer has gained a reputation for brewing top-tier beer(s) with a smooth and distinctive flavour at an unparalleled pricing. The company sources its raw materials from both local and international suppliers, ensuring the highest quality standards for its brews.