Medusa Beverages Raises INR 56 Cr in Series A Funding to Expand Operations
Medusa Beverages, a Delhi-based craft beer brand, raised INR 56 Cr in Series A funding. The funds will be used to scale operations, enter new markets, and strengthen distributor partnerships.
Delhi-based craft beer brand Medusa Beverages has raised INR 56 Cr (around $6.5 Mn) in a Series A funding round, co-led by Amal N Parikh, managing director of Ohm Stock Broker, and Ashwin Kedia, cofounder of Alchemy Capital Management. Other participants include veteran investor Ramesh Damani, Crest Opportunities, and several high-net-worth individuals (HNIs) from Singapore, the UK, and the UAE.
The fresh funding will enable Medusa Beverages to scale its operations, strengthen partnerships with distributors, and expand its market presence across India. The company plans to enter new markets, including Assam, Andhra Pradesh, and Maharashtra.
Avneet Singh, founder and CEO of Medusa Beverages, stated, “With the support of our investors, we are excited to expand our operations, build a diverse portfolio of brands, and strengthen our presence in key markets.”
Founded in 2017, Medusa Beverages offers three varieties of craft beer and operates in seven Indian states, including Delhi, Punjab, Uttar Pradesh, and Himachal Pradesh. Currently, its products are available at over 7,000 retail outlets.
Medusa reported a gross revenue of INR 132 Cr in FY24, fueled by the strong demand for its flagship beer. The company projects a revenue of INR 175 Cr for FY25. To date, Medusa has raised a total of INR 13 Cr in funding.
The latest funding round reflects growing investor confidence in India’s burgeoning alcohol industry, which is witnessing rapid expansion and innovation.
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