Indian fine jewellery retailer GIVA Jewellery has raised nearly $62 million (Rs 530 crore) in its Series C funding round led by growth-stage investment firm Creaegis, it announced on Wednesday.
The funding also saw participation from existing investors Premji Invest, Epiq Capital, and Edelweiss Discovery Fund, the startup said in a statement.
The funds raised will be used to scale the brand’s retail and digital footprint, enhance tech-enabled supply chain capabilities, deepen its offerings in lab-grown diamond jewellery and expand into new categories, the statement added.
“Their [Creaegis] experience with digital-first, consumer-focused businesses aligns well with our plans to grow GIVA’s omnichannel footprint and build on our product, tech, and operational strengths. With support from both new and existing investors, we aim to enhance the fine jewellery experience for today’s Indian consumer and continue scaling our presence,” said Ishendra Agarwal, Founder of GIVA.
Founded in 2019 by Ishendra Agarwal and Nikita Prasad, GIVA had raised $30.4 million in its extended Series B round led by Premji Invest, Epiq Capital, Edelweiss Discover Fund, and the top management of GIVA last October.
Established as a silver jewellery retailer, GIVA has expanded its offerings to include gold jewellery and lab-grown diamonds. Moving forward, GIVA will prioritise 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 initiative, the company earlier said.
The brand currently operates over 240 physical stores across India and aims to open an additional 145–150 stores this year, with a strong focus on Tier II cities.
“The company is well-positioned to be a market leader due to its product offering, strong digital presence and deep omnichannel operational capabilities. Our previous experience in investing in transformational D2C companies will enable us to support the company’s planned expansion,” said Prakash Parthasarathy, managing partner and CIO, Creaegis.
