Shark Tank Proost
This episode of Shark Tank India Proost presents the pitch. Will the founder get a deal from the sharks? To know about the deal read till the end.
|Founders||Vijay P. Sharma and Tarun Bharava|
|Ask||₹ 1 crore for 0.75% equity|
Vijay P. Sharma and Tarun Bharava. They are from Delhi.
Vijay P. Sharma is a diploma engineer and has worked in many companies abroad like UAE, Indonesia etc. When he left the company he was the working CEO of the company.
About the company Proost
A person must be bold to achieve greatness in life. Like Peyush Bansal left a high-paying job in Microsoft to start Lenskart. Like that one of the founders of Proost at the age of 55 left the job and became an entrepreneur. Beer has a 65000 crore rupees market in India. 85% of this is strong beer. But there are few market players in this strong beer sector. So in order to solve this problem Proost was founded. Proost is an affordable beer brand which is known for its premium quality, low bitterness, High affordability and High drinkability. Apart from strong beer, they also have two varieties: light beer and wheat-crafted beer. The ingredients are India made. Beers are available at 1800+ retail stores and 70 lakhs units have been sold till date. The company is working as a lease model. They have factories in Punjab and Haryana and recently they will also have a factory in Telangana. They have acquired licenses for the states of Delhi, Haryana, Punjab, Uttar Pradesh and Kerala. They started the company in the year 2018-19.
Ask by the Owner Proost
The owner asked for 1 crore rupees for 0.75% equity in the company.
Proost Sales And Revenue
In the financial year 18-19 the sales were 77 lakhs rupees. In 19-20 the sales were 3.21 crore rupees, in 20-21 the sales were 4.2 crore rupees, in 21-22 the sales were 7.5 crore rupees and in this year till date, it is 12 crore rupees. MRP of every state is different as excise duty is different for different states. For eg. in Delhi, the MRP of a can is 100 rupees in which 45 rupees is of excise duty, 33 rupees is of COGS, 22 rupees is gross profit. They are a loss-making company till date as there are many fixed costs. They will start to make a profit only when they increase production. They have raised 2.7 cr. at a post-money valuation of 16.66 crore rupees in the month of December 2021. They will also have another fundraising round of 16 crores at a valuation of 133 crores.
What’s Up Wellness
Offers and counter offers
No sharks showed interest as they didn’t want to invest huge money for that low equity as the company also has two funders.
Proost Final Deal
No deal was finalized with any sharks.