Mumbai Angels, Hyderabad Angels, Speed Fund, GetVantage, Finnvolve, and other illustrious angel investors led a new funding round of Rs 8.5 crore for the Delhi-based startup Proost Beer. Dauble PTE and Dev Punj, who were already investors in Proost Beer, took part in the round as well.
Proost Beer plans to increase its production capacity, explore new markets, and meet its working capital needs with the additional funds, as per reported by BW Disrupt.
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Commenting on the successful funding round, Tarun Bhargava, CEO and Co-founder of Proost Beer said, “We are delighted to have secured this funding round and this comes as a validation from our investors on our business model, this will allow us to ramp up our production and expand our reach in the market. We look forward to bringing our beer to even more consumers across India.”
The business asserts that it obtains its raw materials from domestic and foreign vendors to ensure the highest standards for its brews.
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About Proost Beer
Homebrew Proost Beer is made by Delhi-based Grano69 Beverages. In October 2017, Vijay P. Sharma and Tarun Bhargava founded it.
