Homegrown beer brand Proost has secured ₹30 crore in its ongoing Series A funding round. The round was co-led by Chimes Group and investor Srinivasan Namala, with additional support from Hyderabad Angels, The Chennai Angels, and other high-net-worth individuals (HNIs).
Founded in 2017 by Tarun Bhargava and Vijay P. Sharma, Proost has been steadily carving out a niche in the Indian beer market. This latest infusion of capital comes on the heels of the company’s pre-Series A success, where it raised ₹25 crore in October 2023.
The new funds will be channeled toward enhancing supply chain efficiency, entering new markets, expanding the product portfolio, and amplifying brand visibility. Proost is committed to meeting evolving consumer preferences while maintaining its hallmark of high-quality brews with low bitterness and high drinkability.
“We are excited to use this funding to bring our vision of redefining beer experiences to more markets across India. Proost remains dedicated to sourcing 99% of its raw materials locally while delivering premium products to our customers,” the founders stated in a press release.
Proost’s beers are already popular in key markets, including Delhi, Punjab, Uttar Pradesh, Kerala, Jharkhand, and Karnataka. With plans to introduce new beer variants and expand its reach, the brand is eyeing a significant share of the growing Indian beer market. By the end of this decade, Proost aims to capture 5% of the market, a goal it plans to achieve through innovation, strategic distribution, and customer-focused offerings.
The Indian craft beer space has seen a surge in competition, with brands like Bira 91, Simba, Maka Di, Arbor Brewing Company, and Kati Patang gaining traction. Proost differentiates itself with its commitment to locally sourced ingredients and its refreshing, consumer-friendly approach to beer brewing.
As the Indian beer market continues to evolve, Proost is poised to lead the way with its focus on quality, sustainability, and innovation. This funding round marks another milestone in the company’s journey toward transforming how India enjoys its beer.
