GIVA Jewellery is set to raise nearly $53 million in its Series C funding round led by Creaegis Investment, while Snapmint, a zero-cost EMI platform, is reportedly seeking to raise $40 million in fresh funding.
Creagis set to lead GIVA Jewellery’s Series C round
Indian fine jewellery retailer GIVA Jewellery is set to raise nearly $53 million (Rs 450 crore) in its Series C funding round led by Creaegis Investment.
The financing will also see participation from Premji Invest, Epiq Capital, and others.
According to an Entrackr report, GIVA’s board of directors has passed a resolution to issue 1,73,430 Series C CCPS at an issue price of Rs 25,947 each to raise the aforementioned amount.
The company will use the proceeds to cover operational costs, including hiring, marketing, general corporate purposes, and other expenses as outlined in the business plan, the report said.
Last October, 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.
Established in 2019 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.
General Atlantic in talks to lead Snapmint’s funding round
Snapmint, a zero-cost EMI platform, is reportedly seeking to raise $40 million in a new funding round from both existing and new investors, Entrackr reported.
“General Atlantic is in late-stage talks to lead a new funding round in Snapmint, with participation expected from existing investors as well,” the report said citing sources.
The terms of the deal have been finalised, valuing the company in the range of $150-160 million.
Last December, Snapmint had raised $18 million in a mix of debt and equity funding round led by Prashasta Seth (Prudent Investment Managers), with participation from Perpetuity Ventures and Pegasus Fininvest.
Founded in 2017 by IIT Bombay graduates Nalin Agrawal, Anil Gelra, and Abhineet Sawa, Snapmint is on a mission to democratise no-cost EMI for online shopping in India by eliminating barriers to accessible and affordable purchasing across categories.
