Funding · Commerce & Consumer Brands

GIVA raises ₹40 crore debt from Alteria Capital

By Startup Enthusiast · 11 March 2023

What they do

GIVA sells affordable silver jewellery online, priced between ₹1,000 and ₹20,000

It raised ₹40 crore in venture debt from Alteria Capital for channel expansion and new products

The startup targets ₹350 crore revenue in FY24 and plans 200 offline touchpoints by end of 2023

GIVA, a direct-to-consumer (D2C) silver jewellery startup, has raised ₹40 crore in debt from Alteria Capital, a venture debt fund.
The company will use the funds to expand its channel network and add more jewellery products.
GIVA operates under the legal entity Indiejewel Fashions Pvt Ltd.
The startup was founded in 2019 by Ishendra Agarwal, Nikita Prasad, and Sachin Shetty.
It sells affordable silver jewellery for daily wear, with prices ranging from ₹1,000 to ₹20,000.
GIVA has over 50 offline touchpoints and aims to reach 200 by the end of 2023.
The company targets ₹350 crore revenue in the financial year 2024.

This debt round follows over $17.5 million in total funding raised earlier from investors like A91, Sixth Sense, Aditya Birla Ventures, and others.
The expansion into offline stores and new product categories signals GIVA's push to capture more of the branded silver jewellery market.
Venture debt allows the company to raise capital without diluting equity, preserving ownership for founders and existing investors.

GIVA is a D2C silver jewellery brand selling products such as rings, bracelets, pendants, earrings, men's silver, anklets, chains, mangalsutras, nose pins, perfumes, and toe rings.
It also offers gold jewellery and lab-grown diamond jewellery under the demifine category.
The company designs products in-house and with an influencer community, while manufacturing is done by third parties.
Quality checks focus on metal purity, stone placement, and resistance to tarnishing or scratching.
GIVA's brand ambassador for the men's collection is actor Aditya Roy Kapur.
Products on its website have hundreds of customer reviews (e.g., 964, 745, 568).

GIVA plans to use the debt to expand its offline channel network and broaden its jewellery product range.
It aims to have 200 offline touchpoints by the end of 2023.
The company targets ₹350 crore revenue in FY24.

Alteria Capital (lead) — A venture debt fund that provides debt financing to startups.