New Delhi, Nov. 9 -- Beer maker Medusa Beverages Pvt. Ltd plans to raise Rs.200 crore in two tranches over the next two fiscal years to expand its beer business and enter the spirits market through a partnership with Goa-based gin maker Third Eye Distillery.

The company is targeting gross revenue of Rs.210 crore in FY27, higher than Rs.165 crore reported in FY26, founder and chief executive Avneet Singh told Mint.

The company has yet to become profitable, with net loss widening from Rs.2.8 crore in FY24 to Rs.4.2 crore in FY25, as per the latest figures from the business intelligence platform Tofler.

The partnership gives the beer maker exclusive rights to manufacture, bottle, distribute and sell a portfolio of Third Eye brands across ...