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Medusa Beverages secures ₹56 crore in Series A round

Medusa Beverages secures ₹56 crore in Series A round


Medusa Beverages has raised ₹56 crore in its Series A funding round, led by marquee investors Amal N Parikh & Ashwin Kedia, along with co-investment by Ramesh Damani, Nikhil Garg, Crest Opportunities, and high-net-worth individuals (HNIs) based in Singapore, the UK, and the UAE.

This capital infusion will be utilised to further operational scaling and position Medusa as an umbrella brand that invests in synergistic partnerships across the value chain.

Avneet Singh, Founder and CEO of Medusa Beverages, said, “This investment is a testament to Medusa’s growth story and our vision of becoming a dominant player in the Indian alcobev space. With the support of our investors, we are excited to expand our operations, build a diverse portfolio of brands, and strengthen our presence in key markets. Our focus remains growth, innovation, and delivering high-quality products to our consumers.”

Revenue target

In an earlier conversation with businessline, the founder had said the company is looking to achieve a ₹1,200 crore revenue target by 2029, and ₹180 crore in FY25.

“In FY23, the gross revenue was ₹50.4 crore, and ₹132 crores in FY24. This fiscal, we’ll do ₹180 crore. We have already raised $1.5 million, or around ₹13 crores, which was used for market expansion. Next year, we are planning to raise around $15 million, or ₹120 crores,” Singh had said.

Founded in 2017, the company began its operations in 2018. Its product portfolio includes Medusa Air, with an ABV of 4.5 per cent, the Original Medusa Beer with 5.9 per cent, and the recently released House of Dragons Fire edition, for which the company collaborated with Warner Bros. Discovery Global Consumer Products.

The brand has a presence across Delhi, Punjab, Uttar Pradesh, Chhattisgarh and Himachal Pradesh. It has an industry scale of 350 million cases and growing.





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