Medusa Beverages, a craft beer brand based in Delhi, has raised 56 crore rupees (approximately US$6.5 million) in its series A funding round.

The financing was co-led by Amal N Parikh, managing director of Ohm Stock Broker, and Ashwin Kedia, co-founder of Alchemy Capital Management.

It saw participation from investor Ramesh Damani, Crest Opportunities, and high-net-worth individuals from Singapore, the UK, and the UAE.

The company plans to use the funding to expand operations, form partnerships with distributors, and enhance its market presence across India.

Founder and CEO Avneet Singh indicated that Medusa intends to reach new markets in Assam, Andhra Pradesh, and Maharashtra.