Proost Beer has closed its Pre-Series A funding round, securing Rs 25 crore in through a mix of equity and debt. This substantial investment, backed by a blend of existing and new investors, including Chimes Group, Dev Punj, The Chennai Angels, Finvolve, India Accelerator, Hyderabad Angels, Mumbai Angels, Angel List India, and Agiliti Venture, positions the company for robust growth.
The fresh infusion of funds will play a pivotal role in Proost Beer’s strategic expansion plans. Operating under the umbrella of Grano69 Beverages Pvt. Ltd in Delhi, the startup enjoys a strong presence in Delhi, Punjab, Uttar Pradesh, and Kerala retail outlets selling an impressive 9 units of beer every minute.
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The International Monetary Fund’s $7-billion bailout deal has spurred an unprecedented market rally in Pakistan. Latest data shows that Pakistan’s benchmark index – Karachi Stock Exchange – remains in green for the second day on the trot. According to a Reuters report, on Monday, Pakistan’s benchmark share index rose 1.44% to hit a record high. On Tuesday, the morning trade data by Bloomberg showed the KSE posting a 1.52 per cent gain at 81,155.61 points.
Apart from the share market, Pakistan’s international bonds also gained on Monday according to Tradeweb data, a Reuters report said. The 2029 maturity was up as much as 0.7 cents on the dollar to be bid at 90.5 cents – within a whisker of the two-year high hit by the bon…