Proost Beer is a Delhi-based beer brewing company founded in 2017 by Vijay P Sharma and Tarun Bhargwa. The company sells beer across Delhi, Punjab, Uttar Pradesh and Kerala and reports selling nine beer units per minute. It aims to capture a 5%+ share of the Indian beer market by the end of the decade and plans to grow 300% by the end of fiscal year March 2024. Proost faces competition from Arbor Brewing Company, Bira 91, Simba, Kati Patang, Maka Di and Witlinger. The startup closed a Pre-Series A round raising about Rs 3 million (reported as $25 crore in the press release). The additional funds will be used for strategic expansion. Proost Beer is a brewery founded in 2017 that sources raw materials from both local and international suppliers to produce its beer. The company is present in more than 1,800 retail outlets and has sold over 10 million units. Proost plans to use new funding to expand production capacity, broaden its geographic reach, fulfil working capital needs, drive growth, and strengthen its position in the beer brewery space. Management expects the funding to help achieve 300% growth in FY24 and sees strong consumer willingness to try new, high-quality products. The company says the latest investment is part of a larger fundraising plan to support state-level expansion and ramp up production.

Total raised

$4M

Funding rounds

3

Latest round

Series A

Latest activity

Dec 2023