Medusa Beverages, a premium craft beer brand founded by Avneet Singh in 2017, has successfully raised Rs 56 crore ($6.6 million) in a Series A funding round. The round was co-led by Amal N. Parikh and Ashwin Kedia, with participation from prominent investors like Ramesh Damani, Nikhil Garg, Crest Opportunities, and other high-net-worth individuals (HNIs).

The fresh funding will enable Medusa to scale its operations and invest in strategic partnerships across its value chain. The company, known for its bold and innovative beer offerings, is committed to strengthening its presence in the Indian alco-bev industry and building its portfolio of craft beers.

Medusa has already established itself as a market leader in Delhi’s craft beer scene within just five years of its launch. The brand is recognized for its high-quality lagers and unique taste profiles, appealing to beer enthusiasts who appreciate both flavor and aesthetics. Medusa’s beers stand out with their distinctive profiles, offering a memorable experience for its consumers.

Present in Delhi, Punjab, Uttar Pradesh, Chhattisgarh, and Himachal Pradesh, Medusa operates its brewery in Punjab. The company has ambitious plans to continue expanding into key markets, aiming to become a leading name in the Indian craft beer industry.

As Medusa looks to broaden its footprint, it faces competition from other craft beer brands such as Goa Brewing, White Owl, Drink Monday, Bira 91, Amara Breweries, and Foo Brew, among others. However, its focus on innovation, growth, and quality positions it strongly for future success in the rapidly growing Indian craft beer market.