SUMMARY
- GIVA raised ₹255 Cr in an extended Series B round for offline expansion plans.
- Founder Ishendra Agarwal aims to strengthen silver and lab-grown diamond segments while expanding gold offerings.
- The company previously raised ₹270 Cr in July 2023, including ₹200 Cr from Series B.
GIVA Jewellery announced on Monday that it had completed an extended Series B investment round, raising ₹255 crore from top management of GIVA as well as Premji Invest, EPIQ Capital, and Edelweiss Discover Fund. The firm will use the fresh funds for its offline expansion plans.
In its Series B round, GIVA raised a total of ₹525 crore with this, of which ₹255 crore came from secondary transactions. A91 Partners and India Quotient witnessed a partial exit from the funding round, which was made up of 35% main and 65% secondary investments.
Ishendra Agarwal, the founder and CEO of GIVA Jewellery, stated, “Our focus remains steadfast on holding our position as the no.1 silver jewellry player in the market with further fortifying our lab-grown diamond segment, broadening our gold offerings, and consolidating our market presence.”
Ishendra Agarwal, Nikita Prasad, and Sachin Shetty founded GIVA Jewellery in 2019. The brand offers a vast range of products, including 925 sterling silver, 14K and 18K gold, and lab-grown diamonds, which it promotes as an ethical alternative to natural diamonds. Known for its hypoallergenic silver collection, GIVA even claims that wearing its silver can help reduce anxiety.
The company had raised a total of ₹270 crore as of July 2023, of which ₹200 crore came from a Series B fundraising round headed by Premji Invest, the family office of Azim Premji. It had said in a statement that the round had received ₹70 crore from secondary sales of shares to enable partial exits for early participants.
