Proost
Overview
Proost is a burgeoning homegrown beer brand founded in 2017 by Vijay P Sharma and Tarun Bhargava. Based in New Delhi, India, it operates under the umbrella of Grano69 Beverages Pvt Ltd. The company specializes in handcrafted beers with bold flavors, available in several Indian states. As of the latest data, Proost has raised substantial capital through multiple funding rounds, totaling approximately $6.96 million. Its beers include well-received varieties such as White Ale, Mild Lager, and domestic Strong Lager, appealing to a wide range of consumers.
Recent Developments
- November 2024: Proost raised INR 30 crore in the first tranche of its Series A funding, led by Chimes Group and Srinivasan Namala of Porus Laboratories. The capital is intended for market expansion and product range enhancement.
- October 2023: The company completed its pre-Series A round, securing INR 25 crore. The funding will be directed towards expanding production capacity and new market penetration.
- Early 2023: Proost received INR 8.5 crore in a pre-Series A funding round. This investment was aimed at expanding production and solidifying its market position in India.
- Product Expansion: Throughout 2023, Proost diversified its portfolio with new beer variants, tapping into the Indian beer market's growth potential. The brand aims to capture a 5% market share by the end of the decade.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2017 |
| Headquarters | New Delhi, India |
| Founders | Vijay P Sharma, Tarun Bhargava |
| Revenue | $5.09 million (2024) |
| Profits | -$543K (2024) |
| Key Investors | Chimes Group, The Chennai Angels, Agiliti Venture |
| Industry | Beverages (Alcoholic) |
| Number of Employees | 39 |
Early History
Proost was established in 2017 by entrepreneurs Vijay P Sharma and Tarun Bhargava. Their vision was to craft unique beers that resonate with the Indian palate while incorporating local and international brewing techniques. Initially, Proost focused on building a robust product lineup that included White Ale, Mild Lager, and Strong Lager. The company quickly gained traction due to its focus on quality and affordability, setting the stage for its presence in significant Indian markets like Delhi, Punjab, and Kerala.
Company Profile and Achievements
Proost operates as a craft beer brand offering a range of locally brewed beers. Its business model centers on the infusion of local flavors, positioning itself as an affordable yet premium alternative in the Indian beer market. Some of the company’s major achievements include:
- Strategic Market Entry: Since its inception, Proost has strategically expanded into prime markets, ensuring product availability in over 1800 retail outlets across key Indian states.
- Innovative Product Line: The introduction of beer varieties such as White Ale and Strong Lager have expanded its customer base.
- Funding Milestones: Proost secured significant funding through multiple rounds, supporting its ambitious expansion and product development initiatives.
Current Operations and Market Position
Proost is currently active in multiple states across India, including Delhi, Punjab, and Kerala. Its market strategy focuses on achieving a significant share of the Indian beer market by enhancing production capabilities and expanding into new regions. Proost is lauded for its quality-centric approach, utilizing locally-sourced raw materials. Its competitive advantage lies in its comprehensive understanding of consumer preferences, facilitating the development of products that balance taste and affordability.
Conclusion
Proost has quickly established itself as a notable player in the Indian beer industry. With strategic funding and expansion plans, the company is well-placed to capture more of the burgeoning Indian beer market. As it continues to innovate and expand its product lineup, Proost's commitment to quality and customer-centricity will likely guide it toward achieving its aspirational market share goals by the end of this decade.