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."