Proost Beer raises $3-M

Delhi-based Proost Beer has raised pre-Series A funding of INR 25 crore (USD 3 million) through a mix of equity and debt. The investment is backed by existing and new investors including Chimes Group, Dev Punj, The Chennai Angels, Finvolve, India Accelerator, Hyderabad Angels, Mumbai Angels, AngelList India and Agiliti Venture. The fresh capital will be deployed towards expansion. Earlier, Proost Beer had raised INR 8.5 crore in equity and debt, from Mumbai Angels, Hyderabad Angels, Speed Fund, GetVantage, Finnvolve and others. Founded by Vijay Sharma and Tarun Bhargwa in 2017, the company claims to offer a premium quality beer, using high-quality raw materials to ensure authentic taste.