Medusa Beverages, a premium craft beer brand, has secured Rs 56 crore (approximately $6.6 million) in its Series A funding round.

The round was co-led by Amal N. Parikh and Ashwin Kedia, with additional investments from Ramesh Damani, Nikhil Garg, Crest Opportunities, and other high-net-worth individuals (HNIs).

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The funds will be utilized to expand operations and invest strategically in partnerships that enhance the company’s value chain, according to a press release from Medusa Beverages.

Medusa intends to grow its business, develop a wide range of brands, and bolster its position in important areas. The business is dedicated to growth, innovation, and providing customers with high-quality products.

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To date, Medusa Beverages has raised a total of ₹13 crore in funding. In FY24, the company achieved gross revenue of ₹132 crore, fueled by robust demand for its flagship craft beer. Founder Singh anticipates revenue to grow to ₹175 crore in FY25, highlighting the brand’s consistent growth.

About Medusa Beverages

Founded in 2017 and based in Delhi, Medusa Beverages is targeting Assam, Andhra Pradesh, and Maharashtra as its next key markets for expansion. Currently, the company’s craft beer is available in 7,000 retail outlets across seven states, including Delhi, Uttarakhand, Punjab, Chandigarh, Uttar Pradesh, Chhattisgarh, and Himachal Pradesh.

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Known for its three distinct beer variants, Medusa has established a strong presence in the craft beer segment and plans to further expand its product lineup to cater to the changing tastes of Indian consumers.