D2C jewellery brand GIVA has raised INR 102 Cr (about $11.7 Mn) in equity and debt from Alteria Capital and Northern Arc.
Backed by Premji Invest, GIVA plans to use the funds for retail expansion and general corporate purposes.
This marks GIVA’s second fundraise in five months. In October 2024, it raised INR 255 Cr ($30.3 Mn) in a Series B round led by Premji Invest to boost offline expansion and lab-grown jewellery offerings.
The brand currently operates 199 stores across Tier I and II cities, including Bengaluru, Pune, Hyderabad, Mumbai, and Delhi NCR.
Founded in 2019 by Ishendra Agarwal, Nikita Prasad, and Sachin Shetty, GIVA started with 925 fine silver jewellery and later expanded into 14K and 18K gold and lab-grown diamonds.
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It retails via physical stores, online platforms, and shop-in-shop partnerships with Shoppers Stop and others.
In FY24, GIVA’s operating revenue surged 66% to INR 273.6 Cr, while net loss widened by 30% to INR 58.7 Cr due to a 55% rise in metal procurement costs.
Competing with CaratLane, Kushal’s, and Palmonas in India’s $3.7 Bn online jewellery market, GIVA’s funding comes as BlueStone prepares for an IPO, having filed for an INR 1,000 Cr+ public listing in December 2024.
