GIVA Jewellery, known for its fine jewellery has raised ₹255 crore in an extended Series B funding round led by Premji Invest, EPIQ Capital, Edelweiss Discovery Fund and the top management of GIVA.
The funding round, comprising 35% primary investment and 65% secondary investment, facilitated the successful partial exit of A91 Partners and India Quotient.
The fresh capital will be used for expansion plans, increasing its offline presence across India, augmenting its lab-grown diamond offerings, and enabling strategic investor exits.
GIVA also plans to strengthen 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. In 2023, GIVA had entered into the lab-grown diamonds and gold jewellery.
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.
GIVA has expanded to 150 retail stores with the introduction of a franchise model, enhancements in manufacturing capabilities, and the launch of lifetime plating facilities.
Ishendra Agarwal, Founder, and CEO of GIVA Jewellery, said, “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. Our focus remains steadfast on holding our position as the no.1 silver jewellery player in the market with further fortifying our lab-grown diamond segment, broadening our gold offerings, and consolidating our market presence.”
“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,” said Kaveesh Chawla, Partner, Premji Invest.
“We are excited to partner with Ishendra and the team at GIVA Jewellery in their journey to deliver exceptional customer experience through a trifecta of new age designs, superior quality and affordable pricing. Ishendra’s relentless focus on customer delight, attention to detail and use of tech across the value chain has resulted in a superlative and consistent value proposition for the GIVA customer,” Said Rishi Navani, Managing Partner and Founder Epiq Capital.
