Friday, June 14, 2024
Outlook India
Outlook Business

Proost Beer Raises Rs 25 Crore In Pre-Series A Funding

The Delhi-based start-up, which operates under Grano69 Beverages Pvt. Ltd has a significant following in Delhi, Punjab, Uttar Pradesh etc.

Proost Beer Raises Rs 25 Crore In Pre-Series A Funding

Start-Up Team

POSTED ON October 26, 2023 3:06 PM

Proost Beer has successfully closed its Pre-Series A funding round securing a significant Rs 25 crore through a mix of Equity and Debt. This substantial investment, backed by a blend of existing and new investors including Chimes Group, Dev Punj, The Chennai Angels, Finvolve, India Accelerator, Hyderabad Angels, Mumbai Angels, Angel List India, and Agiliti Venture, positions the company for robust growth. 

The fresh infusion of funds will play a pivotal role in the company’s strategic expansion plans, the start-up said in a statement.  

Vijay P. Sharma, co-founder and managing director of Proost Beer, expressed his enthusiasm, stating, "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 per cent growth." 

Tarun Bhargava, co-founder and CEO of Proost Beer, expressed his excitement, stating, "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." 

  • Related Articles

    Founded in 2015, Innov8 provides premium co-working spaces, offering a vibrant and productive work environment with excellent connectivity

    Innov8 To Double Its Coworking Centres In FY2024

    Datoms has developed a connected operations cloud that consolidates people, processes, and machine operations onto a single platform

    Datoms, DeepTech IoT Start-Up, Raises $1.2 Million Led By Yournest VC

    The recruitment drive is already in full swing for positions at the company's Gurugram and Bengaluru offices

    CARS24 Plans To Recruit 100 Tech Experts This Quarter