Indian fine jewellery retailer GIVA has raised Rs 255 crore ($30.4 million) in an extended Series B funding round.
This financing round was led by Premji Invest, Epiq Capital, Edelweiss Discover Fund, and GIVA’s top management, and includes both primary and secondary investments. This comes as GIVA looks to expand its presence across India and strengthen its offerings, particularly in the lab-grown diamond and gold jewellery segments.
Strategic Investor Exits and Growth Plans
The funding round facilitated partial exits for early investors A91 Partners and India Quotient, while allowing GIVA to reinforce its market position. Of the Rs 255 crore raised, 35% is primary investment, while 65% is secondary, enabling these strategic exits. This follows a previous round in 2023, when GIVA secured $33 million from Premji Invest.
CEO and Founder Ishendra Agarwal outlined GIVA’s key priorities following this latest funding boost. “Our focus remains steadfast on holding our position as the number one silver jewellery player in the market, while further fortifying our lab-grown diamond segment,” he said. The company also plans to expand its gold offerings and solidify its market presence through targeted marketing and strategic partnerships.
Expanding Offline and Lab-Grown Diamond Offerings
Since its establishment in 2019 as a silver jewellery brand, GIVA has diversified its product line to include gold jewellery and lab-grown diamonds. With a significant portion of the new funding allocated to enhancing its offline presence, GIVA plans to increase its footprint across India, adding to its established online platform.
The company’s focus on lab-grown diamonds reflects broader trends in the global and Indian jewellery markets, where sustainability and ethical sourcing are gaining traction. GIVA’s move into this segment aligns with growing consumer interest in alternative diamond options.
Market Context and Competition
India’s jewellery market continues to grow at an impressive pace. According to Statista, India is set to generate $81.26 billion in revenue from jewellery in 2024, underlining the importance of the country in the global jewellery industry. Traditional players still dominate the market, but new-age brands like GIVA, Melorra, and CaratLane are quickly making their mark, leveraging online channels and innovative product offerings to compete with established names.
Recent funding activity in the sector indicates continued investment in both fine and fashion jewellery. Earlier this year, silver jewellery retailer Kushal’s raised $34.26 million, and fashion jewellery brand Salty secured Rs 5 crore. GIVA’s funding puts it among competitors like BlueStone, CaratLane, and Melorra, which have also attracted significant investment.
