Goyaz, a gold-plated silver jewelry brand, has raised ₹130 crore in its Series A funding round led by Norwest.
The fresh funds raised will be used to expand retail presence across major Indian cities and also strengthen its design and manufacturing capabilities. The company also plans to enhance its omnichannel presence, accelerate growth, diversify its portfolio, and deepen the brand’s presence across both metro and tier-II markets.
Founded in January 2023 by Priyanka Vemuluri, Goyaz is a gold-plated silver jewelry brand. The brand has 18 stores across multiple states, connecting consumers with sophisticated and auspicious jewelry that is accessible, stylish, and culturally authentic.
Goyaz tackles the escalating costs associated with traditional auspicious jewelry by offering an affordable yet sophisticated alternative. The brand’s exquisitely designed gold-plated silver collections appeal to consumers seeking cultural authenticity alongside exceptional value, meeting a widespread demand across India.
Each piece is crafted from high-quality silver and elegantly plated with a thin layer of gold, combining silver’s durability and affordability with the rich, luxurious appearance of gold. Through this approach, Goyaz delivers sophisticated and auspicious jewelry that is both accessible and stylish. Positioned as a thoughtful alternative to traditional solid gold jewelry, Goyaz addresses rising costs without compromising on elegance or cultural significance.
Priyanka Vemuluri, Founder and CEO of Goyaz, said, “We are delighted to welcome Norwest as our inaugural institutional investor. Their partnership empowers us to broaden the reach of our meticulously crafted occasion jewelry. Leveraging Norwest’s strategic expertise, we will accelerate growth, diversify our portfolio, and deepen our presence across key markets. We remain steadfast in our commitment to exceptional craftsmanship and innovation, establishing Goyaz as a distinguished leader in the alternative jewelry sector.”
Niren Shah, Managing Director and Head of Norwest India, said, “With gold prices soaring, traditional jewelry has become out of reach for many consumers. Women today want variety, design innovation, and authenticity — all at accessible prices. Goyaz captures this shift beautifully, pioneering a new category of gold-plated silver jewelry that blends cultural heritage with contemporary design. The founders have built a profitable, bootstrapped business growing over 100% YoY— a testament to their sharp execution and strong fundamentals.”
Ankit Prasad, Principal, Norwest India, said, “Driven by a clear vision and deep customer obsession, Priyanka and Ravi have built Goyaz into a profitable and scalable business in just a few years. Goyaz’s robust backend platform and integrated supply chain enable exceptional execution and consistency at scale, while maintaining strong unit economics. We’re excited to partner with them as they continue to lead this emerging category and redefine how Indian consumers experience and purchase occasion jewelry.”
