Entrepreneur Name – Vijay P. Sharma and Tarun Bharava
About the Entrepreneur – Vijay P. Sharma and Tarun Bharava hail from Delhi. Vijay P. Sharma is a diploma engineer with a wealth of international experience, having worked in companies across the globe in countries like the UAE and Indonesia.
Prior to leaving the company, he served as the working CEO.
LinkedIn Profile- https://www.linkedin.com/in/tarun-bhargava-72b89676/
| Brand Name– | Proost69 |
| Brand Website- | https://www.proost69.com/main.php |
| Business Category– | Beer |
| Company Valuation– | ₹133.33 Crores |
| Equity Asked– | ₹1 cr for 0.75% Equity |
| Deal Closed– | No. |
| Target City/Country- | India |
| Total Addressable Market- | INR 65000 Crores |
| Product/Services– | Brewed Beer |
About the Product – The beer market in India is valued at 65000 crore rupees, with strong beer making up 85% of the market share.
However, there are only a few players in this segment. To address this gap, Proost was established.
Proost is an affordable beer brand that is renowned for its premium quality, low bitterness, high affordability, and drinkability.
Along with strong beer, they also offer two other varieties: light beer and wheat-crafted beer. The ingredients used are locally sourced.
Proost beers are available at over 1800 retail stores and they have sold over 70 lakh units to date.
The company operates on a lease model and has factories in Punjab and Haryana.
They recently acquired a license for Telangana, in addition to Delhi, Haryana, Punjab, Uttar Pradesh, and Kerala. Proost was founded in the year 2018-19.
Conclusion –
Vijay P. Sharma and Tarun Bharava were seeking an investment of ₹1 crore for 0.75% equity, but none of the sharks expressed interest in the deal as they felt the equity offered was too low for the amount of money they would have to invest.
Additionally, the company already had two existing funders. Ultimately, the pitch resulted in no deal.
Proost69 Shark Tank India Review