Delhi-based beer company Medusa Beverages has raised Rs 56 crore in Series A funding. This funding round was led by investors Amal N Parikh and Ashwin Kedia. Other big names like Ramesh Damani, Nikhil Garg, Crest Opportunities, and high-net-worth individuals (HNIs) from Singapore, the UK, and the UAE also joined in.
Avneet Singh, who started Medusa Beverages and is the CEO, said the funding shows how far the company has come. He shared that the company now plans to grow faster, add new products, and expand to more markets in India.

Since it started in 2017, Medusa has come out with three types of beer. In 2023, it launched a light beer in India called “Air,” which has been popular. Right now, Medusa is available in Delhi, Punjab, Uttar Pradesh, and Uttarakhand. It is planning to enter states like Assam, Andhra Pradesh, and Haryana soon. Later, the company also plans to expand in South India. Medusa will also open two new breweries this year to make more beer and reach more people.
The company expects to sell 1.1 million beer cases in the financial year 2025, with a big part of the sales coming from Delhi.
Even though there were some challenges this year like bad weather and the election season, the company is still hopeful. It believes that India’s beer market will grow 10-12% every year till 2030. This is because more young people are reaching the legal age to drink alcohol.
In a new move, Medusa has teamed up with Warner Bros to launch a premium beer called “House of the Dragon.” This premium beer in India will be sold in tier-1 cities and aims to attract urban drinkers.
Medusa is one of the fastest-growing beer brands in India. It is also working to become one of the top beer brands in India. Their “Air” variant has helped them grow quickly. According to Avneet Singh, 20 million new people reach the legal drinking age every year in India, which helps the beer market grow.
While India’s beer market is still growing compared to other countries, it has a lot of potential. The company is also planning to step into the premium bottled water brands segment in the future.