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Proost secures Rs 30 Cr in ongoing Series A round

EntrackrEntrackr · 1y ago
Proost secures Rs 30 Cr in ongoing Series A round
Medial

Proost, a homegrown beer startup co-founded in 2017 by Tarun Bhargava and Vijay P. Sharma, has raised Rs 30 crore in its ongoing Series-A funding round co-led by Chimes Group and Srinivasan Namala. The round also witnessed participation from Hyderabad Angels, The Chennai Angels, and other HNIs. The fresh funds will be utilized to strengthen its supply chain, expand operations into new markets, enhance its product portfolio, and invest in brand-building activities, Proost said in a press release. Proost is an innovative beer brand that aims to disrupt the Indian beer market. Its beers are known for their premium quality, low bitterness, and high drinkability. The company asserts it sources 99% of its raw materials locally while ensuring a premium, refreshing experience for beer enthusiasts across all its markets. Proost intends to enhance its product range by introducing newer variants aligned with evolving consumer demands and industry trends. It claims to have a strong presence in retail outlets across Delhi, Punjab, Uttar Pradesh, Kerala, Jharkhand, and Karnataka. The brand is targeting a 5% market share in the Indian beer industry by the end of the decade, backed by innovation, customer-centric product development, and strategic market expansion. It competes with the likes of Goa-based Maka Di, Arbor Brewing Company, Kati Patang, Witlinger, Bira 91, Simba, et al.

Toffee Coffee Roasters raises pre-Series A round led by IPV

EntrackrEntrackr · 28d ago
Toffee Coffee Roasters raises pre-Series A round led by IPV
Medial

Toffee Coffee Roasters raises pre-Series A round led by IPV Coffee brand Toffee Coffee Roasters has raised Rs 5 crore in pre-Series A funding round led by IPV along with participation from 66 bridge partners, Abhijit Vemuganti and Invesst. The startup was also featured on Shark Tank India and backed by Ritesh Agarwal. The proceeds will be utilized for expansion of operations, enhancing and expanding the backend roastery, improving packaging quality, and new product development as the brand continues to expand its portfolio. Co-founded in 2019 by Rishabh Nigam and Nandini Shrivastava, Toffee Coffee Roasters started as a specialty coffee cafe in Mumbai. During the 2020 lockdown, the brand pivoted to delivering freshly roasted coffees across India. It has since scaled to over 2 lakh customers through various channels and operates out of a 10k sqft roastery. The global coffee market is valued at $150–200 billion, while India’s coffee market stands at around $2 billion, showing a promising CAGR of over 20 percent. The company focuses on high-quality sourcing, roasting, and blending, ensuring better quality at competitive prices. Toffee Coffee Roasters currently produces over 5 tonnes of coffee monthly, aiming to scale production to 50 tonnes, which could support Rs 8-10 crore in annual revenue and reach 8-10 lakh customers. The company holds around 1-2% market share in the overall coffee category.

Proost Beer crosses Rs 100 Cr revenue in FY25, achieves EBITDA breakeven

EntrackrEntrackr · 2d ago
Proost Beer crosses Rs 100 Cr revenue in FY25, achieves EBITDA breakeven
Medial

Proost Beer crosses Rs 100 Cr revenue in FY25, achieves EBITDA breakeven Proost, a homegrown beer startup, has recorded strong growth in FY25 with its revenue surging by 2.7X. Alongside the rapid revenue expansion, the company also claimed to have achieved EBITDA breakeven during the fiscal year, according to the company’s press release. The company’s revenue from operations increased by 174% to Rs 115 crore in FY25 from Rs 42 crore in FY24. According to the company, the growth was led by a steep rise in sales volume, which increased from 2.5 lakh cases in FY24 to 8 lakh cases in FY25. “Growing from around Rs 42 crore in FY24 to Rs 115 crore in FY25 and turning EBITDA breakeven is a validating moment for the team… it proves a beer brand in India can be built sustainably and capital efficiently,” said Tarun Bhargava, CEO and co-founder of Proost. The company has achieved EBITDA breakeven, which was largely driven by sharper cost discipline. A major lever was keeping marketing and brand spends under 2% of revenue, while maintaining a lean organisational structure to control people costs. According to TheKredible, Proost has raised $8 million of funding till date, having Dauble Pte, UMJD Family, Dev Punj, and Manshi Parashar as its lead investors. Proost’s capital-efficient growth comes as some early players in the craft beer segment reassess their strategies. Bira 91, once a leading homegrown beer brand, has scaled back its operations over the past year following regulatory disruptions that impacted sales across multiple states. The company also deferred its IPO plans amid pressure on financials. Along with this, it competes with Maka Di, Arbor Brewing Company, Kati Patang, Witlinger, Simba, et al.

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