A Funding-Focused Success Story
Medusa Beverages, a beer manufacturer based out of Delhi NCR recently announced its Series A round of funding of INR 56 crore. This round saw lead participation by prominent investors such as Amal N Parekh, Ashwin Kedia followed by Ramesh Damani, and Nikhil Garg, Crest Opportunities as the co-investors.
In our exclusive conversation with Avneet Singh, Founder and CEO of Medusa Beverages” This injection of capital marks a significant milestone in Medusa’s journey, fueling its plans to double revenue and expand its footprint across India’s thriving beer market. In our conversation with Avneet, he highlighted that the Company looks to expand into new markets with this round of funding including market expansion into Haryana, Assam, and Maharashtra.
He further highlighted that this round will also see development of draught beer infrastructure with investments in kegs and taps; improving availability of working capital to support scaling operations.
As per Avneet “Medusa’s diverse product lineup is designed to cater to a wide audience. Flagship variants include Medusa Premium Strong, a mass-market bestseller; Medusa Air, a mild beer for discerning consumers; and Medusa X, a premium offering created in collaboration with Warner Bros. under the ‘House of the Dragon’ label. He highlights the launch of a new semi-premium brand that fills the gap between mass-market and premium beers, targeting an untapped demographic in India.
Consistent Growth Backed by Smart Investments
As per the founder Medusa’s growth trajectory has been consistently growing over the years. Starting with sales of 220,000 cases in 2017-18, the company expanded into Punjab, Uttar Pradesh, and Chandigarh, reaching 370,000 cases by 2019-20. During COVID-19 pandemic, Medusa recorded a growth of 250% y-o-y growth in 2022-23, with record revenue of 2.5 times pre-pandemic levels.
This round of funding will now enable Medusa to build on this momentum by unlocking new markets and investing in infrastructure.,. As per Avneet Singh, Founder and CEO of Medusa Beverages
Strategic Partnerships and Market Leadership
As per the founder “Medusa’s recent initiatives highlight its commitment to innovation and partnerships. In Chhattisgarh, a tie-up with a local brewery has helped secure a 5-6% market share, with ambitions to reach 10% in the coming year.” The company is also in discussions with a global beer brand to secure exclusive representation rights in India, further diversifying Medusa’s offerings and strengthening its market position.
Riding the Wave of Industry Growth
As per the founder India’s beer industry, valued at INR 760 million in 2023, is evolving rapidly. Medusa is capitalizing on several key trends. Beer has become a preferred choice for social gatherings, particularly among urban millennials, as cultural shifts have led to increasing social acceptance. With over 50% of India’s population under the age of 25, youthful demographics are fueling demand for premium products. Additionally, gender inclusivity is playing a pivotal role, with more women participating in the workforce and traditional social taboos around alcohol consumption being dismantled. These factors have collectively expanded the market and created a favorable environment for brands like Medusa.
Looking Ahead: Medusa’s Vision
As per Avneet, with its robust funding and strategic focus, Medusa is poised to redefine the Indian beer market. Its plans to double revenue to INR 350-370 crore in 2025 reflect a commitment to sustainable, high-growth strategies. By leveraging its strong funding base, innovative product portfolio, and strategic partnerships, Medusa Beverages is set to lead India’s AlcoBev sector into a new era.
Closing remark:
In the recent past many AlcoBev brands have been seeing capital participation from institutional and strategic investors. As per experts it is going to see a faster growth doubling the markets as Indian beer’s market size was at INR 760mn, selling over 3.1bn liters of beer in 2023. Market is expected to grow by ~7 to 8% value over FY23-28E.