GIVA RAISES INR 200 CRORE FROM INVESTORS, INCLUDING AZIM PREMJI

8th July 2023

GIVA, the Bengaluru based company, which mainly deals in fine silver jewellery, has raised INR 200 Crore in Series B funding led by Premji Invest – Venture Capital & Private Equity Principals owned by Azim Premji. The round also saw participation from existing investors Aditya Birla Ventures, Alteria Capital and A91 Partners. This will help the company innovate further and expand its product categories and offerings. GIVA says it will use the funds to expand its omnichannel presence with more offline stores.

Founded in 2019, GIVA deals in authentic 925 fine silver jewellery and recently made a foray into 14K and 18K gold and lab-grown diamond jewellery. The Bengaluru-based startup, founded in 2019, has over 50 stores across top cities and plans to expand its presence across India over the next five years.

This investment will empower GIVA to expand its omnichannel presence with more offline stores and consolidate its position as the go-to platform for minimalistic jewellery and affordable gifting options.

“Silver jewellery is a $4-billion opportunity in India with the organised market share at less than 7%,” Varun Khandelwal, principal–investments, Premji Invest, said. “GIVA has emerged as a category leader with its focus on fine silver jewellery, design offerings and customer-centricity.”

“We are delighted to have Premji Invest, one of the largest and well respected private equity funds, as a long-term partner,” Giva, Chief Executive Officer, Ishendra Agarwal said. “We look forward to leveraging Premji Invest’s playbook on omnichannel across several consumer brands and retail businesses.”