Medusa Beverages Secures ₹56 Crore in Series A Funding, Plans Expansion

Medusa Beverages Pvt. Ltd., known for its Medusa beer range, has raised ₹56 crore in its Series A funding round, backed by a group of investors. The round saw participation from Amal N Parikh (promoter of Ohm Stock Broker), Ashwin Kedia (co-founder of Alchemy Capital Management), stock market expert Ramesh Damani, banker Nikhil Garg, Crest Opportunities, and several high-net-worth individuals (HNIs) from Singapore, the UK, and the UAE.

This marks the company’s second round of funding, following a pre-Series A round where it raised ₹13 crore from some of the same investors. In December, Mint first reported that the company was planning to raise ₹120 crore in the coming months. The Series B round—targeting ₹70 crore— is expected to close by September, according to Avneet Singh, founder and CEO of Medusa Beverages.

Growth & Expansion Plans

By FY26, Medusa aims to double its production capacity with a new plant in Punjab and establish a new brewery capable of producing 4 lakh hectolitres of beer annually. The company projects gross revenue of approximately ₹180 crore in FY25, with plans to double it to around ₹350 crore by FY26.

Singh emphasized a focus on sustainable and stable growth, ensuring long-term success rather than rapid expansion. Within five years of launching its products, Medusa has secured a leadership position in Delhi, which has further strengthened investor confidence.

Product Portfolio & Market Expansion

Founded in 2017, Medusa initially launched three beer variants with alcohol content ranging from 4.5% to 5.9%. In 2023, it introduced “Air,” a mild beer, and expanded into Uttarakhand, in addition to its existing presence in Delhi, Punjab, and Uttar Pradesh. In December 2023, Medusa entered the premium segment by launching a co-branded beer, “House of the Dragon,” in partnership with Warner Bros., targeting high-end consumers in major cities.

Currently, Medusa relies on third-party manufacturers in Uttar Pradesh and Punjab to produce its beers, with these states serving as key markets for Delhi and surrounding regions. The company is now eyeing further expansion into Assam, Andhra Pradesh, and Haryana, with long-term plans to enter southern India. Additionally, operations will soon commence in Chhattisgarh, supported by the construction of two new breweries to meet growing demand.