Delhi-based craft beer company Medusa Beverages has raised ₹56 crore (approximately $6.5 million) in a Series A funding round. The round was co-led by Amal N Parikh, managing director of Ohm Stock Broker, and Ashwin Kedia, co-founder of Alchemy Capital Management. Other notable investors include Ramesh Damani, Crest Opportunities, and a network of high-net-worth individuals (HNIs) from Singapore, the UK, and the UAE.
The fresh capital will be used to ramp up Medusa’s operations, forge new distribution partnerships, and strengthen its footprint across India. Founder and CEO Avneet Singh announced plans to expand into key markets such as Assam, Andhra Pradesh, and Maharashtra. Singh commented, “This funding gives us the resources to grow aggressively, diversify our product offerings, and deepen our presence in strategic regions.”
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Founded in 2017 by Avneet Singh, Medusa Beverages is a homegrown craft beer brand that has quickly gained a strong foothold in the market. The company offers three unique beer variants and has made its products available in 7,000 retail outlets across seven states, including Delhi, Punjab, Chandigarh, Uttarakhand, Uttar Pradesh, Chhattisgarh, and Himachal Pradesh. Prior to this funding round, Medusa had secured ₹13 crore in total funding.
The beer industry in India has seen significant investor interest recently, as brands look to tap into the growing demand for alcoholic beverages. Last year, Delhi-based Proost Beer raised ₹30 crore (around $3.5 million) to enhance its supply chain and expand its product portfolio. Similarly, Goa-based Latambarcem Brewers (LB Brewers) raised ₹12.5 crore ($1.5 million) to boost its manufacturing capacity, strengthen marketing efforts, and expand its market presence.
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With this new investment, Medusa Beverages aims to not only increase its distribution reach but also cement its position as one of the leading players in India’s craft beer market. The funding signals growing confidence in the country’s alcohol sector and the potential for homegrown brands to scale nationally.
