Medusa Beverages targets US$28.3M revenue in FY26 amid expansion, fresh funding plans 

INDIA – Delhi-based beer maker Medusa Beverages is projecting revenue between ₹220 crore and Rs 250 crore (US$28.3M) for the financial year ending 2026, marking an estimated 100 per cent growth.  

This is lower than the 150 per cent expansion achieved in recent years, with company executives citing heavy rains as a key factor affecting demand and production. 

Avneet Singh, founder and chief executive officer of Medusa Beverages, said the company remains focused on long-term goals despite the near-term moderation.  

“Even with rains affecting production, we are on track for 100 per cent growth this fiscal year,” Singh said. “Our initial target was 150 per cent, in line with past performance, but weather conditions have forced a modest correction.”  

He added that the company expects to reach Rs 1,200 crore (US$135.9M) in revenue by FY29 and plans to capture 3–4 per cent of India’s beer market over the next three to five years. 

To fund its expansion plans, Medusa is preparing to raise about Rs 150 crore (US$16.99M) in a fresh funding round during the current financial year. Singh stated that a portion of the funds would be deployed towards capital expenditure while the remainder would support growth initiatives.  

Earlier in January, the company secured Rs 56 crore (US$6.3M) in Series A funding from a group of investors to scale operations and make strategic investments across the value chain. 

The beer maker is also expanding geographically, with South India as its next focus area. Medusa has signed a brewing contract with a facility in Karnataka, which will serve as its immediate launchpad into the region.  

From this brewery, Medusa plans to distribute to Kerala and Goa as well. The agreement provides the company with an initial annual capacity of 2.5 lakh cases. 

Internationally, Medusa has explored opportunities in the UK and Dubai but intends to produce locally rather than export when entering new markets. 

Additionally, Medusa has ventured into the kegging segment, piloting keg distribution in restaurants. The brewer is targeting 25 outlets in the first phase and has already installed tap machines in 10 restaurants using equipment imported from Italy and the Czech Republic. 

Medusa’s portfolio includes Premium Strong beer, Air Mild Beer, House of Dragon beer in partnership with Warner Bros Discovery Global Consumer Products, and premium water. 

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