Homegrown Beer Brand Proost Beer Bags INR 30 Cr From Chimes Group

Homegrown beer brand Proost Beer has raised INR 30 Cr (around $3.5 Mn) as a part of its ongoing Series A funding round led by Chimes Group.

The round also saw participation from Hyderabad Angels, The Chennai Angels and a host of high net worth individuals (HNIs).

The company plans to use the fresh capital to boost its supply chain and product stack as well as scaling up the brand.

Founded in 2017 by Vijay P Sharma and Tarun Bhargava, Proost Beer manufactures and sells a range of beers. It claims that its beers are entirely made in India.  

By the end of the 2030, the Delhi NCR-based brand aims to tap onto a 5% market share in the Indian beer industry driven by innovation, customer-focused product development and market expansion.

Besides established players like Diageo, United Breweries, and Pernod Ricard India, Proost Beer also competes with startups like Bira91 and White Owl Brewery.

“With these funds, we will focus on expanding into strengthening our production capacity, expanding into a few new markets while also ensuring that we go deeper into our existing ones on the back of brand building,” said Bhargava.

(The story will be updated soon)

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