GIVA Jewellery Secures Rs 225 Crores at Enhanced Valuation in Extended Series B Funding

By: WE Staff | Monday, 14 October 2024

GIVA Jewellery, a trailblazer in the fine jewellery segment, today announced the successful closure of its extended Series B funding round, garnering ₹255 crores from esteemed investors at a higher valuation. This strategic infusion, spearheaded by Premji Invest, EPIQ Capital, Edelweiss Discover Fund and the top management of GIVA, underscores GIVA's compelling growth narrative and is a testament to its unwavering commitment to excellence. The funding round, comprising 35% primary investment and 65% secondary investment, facilitated the successful partial exit of A91 Partners and India Quotient.

This capital injection will propel GIVA's aggressive expansion plans, bolstering its offline presence across India, augmenting its lab-grown diamond offerings, and enabling strategic investor exits. By leveraging this investment, GIVA will further solidify its position as a leader in the fine jewellery industry. GIVA's remarkable growth trajectory has been marked by significant milestones, including a robust retail expansion to 150 stores, the introduction of a franchise model, enhancements in manufacturing capabilities, and the launch of lifetime plating facilities. These achievements demonstrate GIVA's dedication to delivering exceptional quality, innovative designs, and unparalleled customer experiences.

According to Ishendra Agarwal, Founder, and CEO of GIVA Jewellery, "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 & Founder Epiq Capital.

Moving forward, GIVA will prioritize 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. Long-term, the company aims to cement its position as a leader in the fine jewellery industry, driven by its unwavering commitment to excellence, innovation, and customer delight.