New Delhi, Jan 25 : Medusa Beverages, a Delhi-based beer brand, has secured Rs 56 crore in its Series A funding round. The investment was led by Amal N Parikh and Ashwin Kedia, with participation from prominent investors including Ramesh Damani, Nikhil Garg, Crest Opportunities, and high-net-worth individuals (HNIs) from Singapore, the UK, and the UAE.
“This investment is a testament to Medusa’s growth story and our vision of becoming a dominant player in the Indian alco-bev space. With the support of our investors, we are excited to expand operations, diversify our portfolio, and strengthen our presence in key markets,” said Avneet Singh, Founder and CEO of Medusa Beverages.
Since its founding in 2017, Medusa has launched three beer variants, including the mild beer “Air,” which debuted in 2023. The company currently operates in Delhi, Punjab, Uttar Pradesh, and Uttarakhand, and has plans for further expansion. Medusa aims to extend its reach into Assam, Andhra Pradesh, Haryana, and southern India, and will begin operations in Chhattisgarh in 2025, while also establishing two new breweries to increase production capacity.
Medusa is projecting a strong year, anticipating sales of 1.1 million cases in FY25, with a significant portion of sales coming from Delhi.
Despite challenges such as unseasonal rains and election-related slowdowns, Medusa is optimistic about the long-term prospects of the Indian beer industry. The company expects a 10-12% compound annual growth rate (CAGR) in the sector until 2030, fueled by India’s youthful demographic and a rising number of legal drinking-age consumers.
In a strategic move to strengthen its brand, Medusa has partnered with Warner Bros to launch its first co-branded premium beer, “House of the Dragon,” aimed at tier-1 city consumers this month.
India’s beer consumption, though modest compared to global standards, is seeing steady growth. Industry estimates show beer sales reached 350-400 million cases in FY24. Medusa’s growth has been primarily driven by its “Air” variant, and Singh noted India’s demographic advantage, with 20 million individuals reaching the legal drinking age annually, providing a solid foundation for market expansion.
