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Premium Beer Startup Medusa Gets Rs 56 Cr In Series A Funding

The New Delhi-based Medusa Beverages, a craft beer brand has raised Rs 56 crore in its Series A funding round to expand manufacturing and distribution capabilities.

By Jitendra Das
New Update
Craft Beer Startup Medusa Gets Rs 56 Cr In Series A Funding

Medusa Beverages, a Premium Beer Startup has raised Rs 56 crore in its Series A funding round. 

The funding round was led by investors Amal N Parikh and Ashwin Kedia, with contributions from Ramesh Damani, Nikhil Garg, Crest Opportunities, and high-net-worth individuals (HNIs) from Singapore, the UK and the UAE.

The company plans to use the new funds to increase its production capacity, which is currently 2 lakh hectoliters per year. Some parts of the proceeds will also be used for strategic investments across its value chain and to expand within the alcoholic beverage industry. This may include adding flavored products or other related segments that complement its current beer offerings.

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Avneet Singh, Founder and CEO, Medusa Beverages, said, "On the partnerships front, we are looking at strategic investments across the value chain. This means collaborating with key stakeholders—whether in production, logistics, or even adjacent categories within the alco-bev space—to create synergies that enhance efficiency and accelerate growth. These partnerships will allow us to optimize costs, expand our market presence, and introduce complementary products under the Medusa umbrella."

The startup expects to sell 1.1 million cases in FY25, with Delhi making up a large portion of the sales.

Despite challenges like unseasonal rains and slowdowns due to elections, the company is optimistic. It expects a 10-12% annual growth rate in India's beer industry until 2030, driven by a young population and more people reaching the legal drinking age.

In a major development, Medusa has teamed up with Warner Bros to launch its first co-branded premium beer, "House of the Dragon," which will target consumers in tier-1 cities this month.

About Medusa Beverages

Founded in 2017, Medusa Beverages, based in New Delhi, has launched three beer varieties, including the mild beer "Air," which was introduced in 2023. The company currently operates in Delhi, Punjab, Uttar Pradesh, and Uttarakhand and plans to expand into states like Assam, Andhra Pradesh, and Haryana, with plans to move into southern India later. 

This year, Medusa will start operations in Chhattisgarh and set up two new breweries to increase its production capacity.

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