Proost Beer Bags INR 30 Cr From Chimes Group

Homegrown beer brand Proost Beer has raised INR 30 Cr (around $3.5 Mn) as 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). Proost Beer manufactures and sells a range of beers, claiming that its products are entirely made in India. The Delhi NCR-based brand aims to tap into a 5% market share in the Indian beer industry, competing with startups like Bira91 and White Owl Brewery. The funds will be used to expand Proost Beer’s portfolio and market presence, enhancing its production capacity and distribution network. This financial backing will be pivotal in accelerating the company’s expansion plans, both within India and potentially in international markets. The investment reflects growing consumer interest in craft beer and the potential for growth in the Indian beer market.