Funding · Commerce & Consumer Brands

Giva raises Rs 255 crore in extended Series B round

By Startup Enthusiast · 14 October 2024

What they do

Giva sells silver, gold, lab-grown diamond and demifine jewellery online and in stores

It raised Rs 255 crore in an extended Series B round led by Premji Invest, Epiq Capital and Edelweiss Discover Fund

The round includes a secondary sale (existing shareholders sell shares; no new money reaches the company) of Rs 166 crore

Giva raised Rs 255 crore in an extended Series B funding round.
The round was led by Premji Invest, Epiq Capital, Edelweiss Discover Fund and senior management.
Of the total, Rs 89 crore was primary capital (new money to the company) and the rest was secondary capital.
Early backers A91 Partners and India Quotient partially exited through a secondary sale worth Rs 166 crore.
Seed investor First Cheque had realised a 33X return in the earlier Series B tranche in September 2023.
Another early backer, Titan Capital, did not sell any shares in this round.
Giva's total Series B funding now stands at Rs 525 crore, and overall capital raised exceeds Rs 690 crore.

The company plans to use the funds to expand its offline retail presence and grow its lab-grown diamond and gold jewellery offerings.
Giva entered the lab-grown diamond segment in 2023, a fast-growing category in Indian jewellery.
The secondary sale allowed early investors to partially exit, indicating confidence in the company's growth trajectory.

Giva is an omnichannel jewellery startup that sells silver, gold, lab-grown diamond and demifine jewellery.
It operates approximately 150 physical stores across India, both company-owned and franchise-led.
Product categories include rings, bracelets, pendants, earrings, men's silver, anklets, chains, sets, mangalsutras, nose pins, perfumes and toe rings.
The brand ambassador for the men's collection is actor Aditya Roy Kapur.
In FY23, Giva reported revenue from operations of Rs 165 crore, a 96.4% year-on-year growth.
Its losses in FY23 were Rs 45 crore, wider than the previous year.

Premji Invest (lead) — Premji Invest is the family investment office of Wipro founder Azim Premji.
Epiq Capital (lead) — Epiq Capital is a venture capital firm focused on early-stage startups.
Edelweiss Discover Fund (lead) — Edelweiss Discover Fund is the venture capital arm of Edelweiss Financial Services.
A91 Partners (seller) — A91 Partners is a venture capital firm that was an early backer of Giva.
India Quotient (seller) — India Quotient is an early-stage venture capital firm.