GIVA Jewellery, known for its fine silver jewellery, has successfully raised Rs 255 crore in an extended Series B funding round. The investment was led by Premji Invest, Epiq Capital, Edelweiss Discover Fund, and members of GIVA’s top management. This funding round consisted of 35% primary investment and 65% secondary investment, which enabled the partial exit of earlier investors A91 Partners and India Quotient.
While GIVA has not disclosed the exact valuation from this round, the company confirmed that the funds were raised at a higher valuation than before. The capital infusion is aimed at supporting GIVA’s expansion plans, particularly its offline retail presence across India, strengthening its offerings in lab grown diamonds, and facilitating investor exits.
In 2023, GIVA had entered into the lab grown diamonds and gold jewellery.
According to data from Tracxn, GIVA’s valuation as of April 2023 was $172 million. The company had earlier raised ₹200 crores in July 2023 from Premji Invest in a previous round of Series B funding. With this fresh investment, GIVA aims to further establish itself in the fine jewellery sector, with plans to grow its presence in both silver and lab grown diamond markets.
GIVA has been expanding its retail footprint, now boasting 150 stores across the country, and has introduced a franchise model. The company has also improved its manufacturing capabilities and has launched lifetime plating services to enhance customer offerings.
In a statement, Ishendra Agarwal, Founder, and CEO of GIVA Jewellery says, “This investment serves as a resounding endorsement of GIVA’s transformative vision for the fine jewellery industry. We welcome Premji Invest and Epiq Capital as valued partners, leveraging their expertise to propel our ascent.”
Kaveesh Chawla, Partner, Premji Invest says,”We are impressed by GIVA team’s strong commitment and relentless drive to build a best-in-class shopping experience for fine jewellery customers. We are excited to increase our investment as we partner with GIVA on their growth journey.”
Moving forward, GIVA will prioritise strengthening its lab-grown diamond segment through strategic partnerships and innovations, expanding its gold offerings to cater to discerning consumers, and enhancing its market presence through targeted marketing initiatives.