Beer seller Medusa Beverages looks to raise Rs.200-Cr

Delhi-based Medusa Beverages plans to raise INR 200 crore in two tranches over the next two fiscal years to expand its beer business and enter the spirits market.Founded in 2017 by Avneet Singh, Medusa produces the Medusa Premium Strong Beer and Air, a milder lager. The firm has partnered with the Goa-based Third Eye Distillery to manufacture, bottle, distribute, and sell spirit brands - including Stranger & Sons gin, Short Story gin and vodka across 15 states in North India and Jharkhand.The company intends to use the new funds for distribution expansion and to increase manufacturing capacity.