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Proost secures Rs 30 crore as part of its ongoing Series - A round
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Saturday, 23 November, 2024, 12 : 00 PM [IST]
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Our Bureau, New Delhi
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Proost, a homegrown beer startup founded in 2017 by Tarun Bhargava and Vijay P. Sharma, has successfully raised Rs 30 crore in its ongoing Series-A funding round. The investment, led by Chimes Group and Srinivasan Namala, also saw participation from Hyderabad Angels, The Chennai Angels and other marquee HNI’s.
The capital will be utilised to strengthen its supply side, expand Proost's operations into new markets, and enhance its product portfolio, and brand-building activities.
Tarun Bhargava, co-founder & CEO of Proost, said, "We are thrilled to announce this new round of funding, which represents a significant step forward in Proost's journey. 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. This is Tranche-1 of our ongoing Series A round and it's great to see 90% of the round size being mopped by our existing investors. Our commitment to delivering value to our stakeholders remains unwavering, and this investment brings us closer to our goal of capturing a substantial share of the Indian beer market by the end of the decade."
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