Silver Jewellery Brand GIVA Raises INR 200 Crore In Series B Funding As per the company, this investment will empower GIVA to expand its omnichannel presence with more offline stores
By Teena Jose
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GIVA Jewellery, a silver jewellery brand, has raised INR 200 crore in Series B funding round led by Premji Invest to innovate further and expand its product categories and offerings. The round also saw participation from existing investors Aditya Birla Ventures, Alteria Capital and A91 Partners. As per the company, this investment will empower GIVA to expand its omni channel presence with more offline stores and consolidate its position as the go-to platform for minimalistic jewellery and affordable gifting options.
"We are delighted to have Premji Invest, one of the largest and well respected private equity funds, as a long-term partner. We look forward to leveraging Premji Invest's playbook on omnichannel across several consumer brands and retail businesses to strengthen our leadership position and establish our pan India presence," said Ishendra Agarwal, founder and CEO, GIVA.
The company claimed that the platform's user-friendly interface, seamless shopping experience, and focus on customisation have set it apart in an increasingly competitive market. Adding that, currently, GIVA has over 50 stores across top cities in India and plans to expand its presence across India over the next five years.
"Silver jewellery is a $4 billion opportunity in India with the organized market share at less than 7%. GIVA focuses on fine silver jewellery, design offerings and customer-centricity. We are excited to partner with GIVA in its next growth phase and help build a leader in the space with a truly omnichannel play," said Varun Khandelwal, principal-Investments, Premji Invest.
Founded in 2019 by Ishendra Agarwal, Nikita Prasad and Sachin Shetty, GIVA deals with 925 fine silver jewellery and has recently forayed into 14K and 18k gold and lab-grown diamond jewellery.
