[Funding alert] Jewellery Brand Giva Raises Rs 200 Cr In Series B Round

Leading manufacturer of fine silver jewellery, GIVA Jewellery secured INR 200 crores in Series B funding backed by Premji Invest for continued innovation and to broaden its product lines. A91 Partners, Alteria Capital, and Aditya Birla Ventures all current investors also participated in the round.

This investment will enable GIVA to increase the number of offline outlets in its multichannel presence and solidify its status as the go-to source for elegant jewellery and inexpensive gift ideas, as reported by bwdisrupt.com.

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“Silver jewellery is a $4 billion opportunity in India with the organized market share at less than 7%. Silver jewellery offers an attractive alternative to other fine jewellery options such as gold, platinum, etc. at an affordable price point for casual and everyday usage. GIVA has emerged as a category leader with its focus on fine silver jewellery, design offerings and customer-centricity. We are excited to partner with GIVA in its next growth phase and help build a leader in the space with a truly omnichannel play,” said Varun Khandelwal, Principal – Investments, Premji Invest.

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People are looking for fresher trends and variety in jewellery for daily use, casual wear, and professional attire. With a lifelong replating service and a six-month warranty, GIVA offers the broadest selection of handpicked and certified silver jewellery. Over 250 fresh patterns are released each month by GIVA, which collaborates with top designers all over the world.

The platform stands out in a market that is becoming more competitive thanks to its user-friendly layout, effortless buying experience, and dedication to modification. Over the following five years, GIVA wants to increase its footprint throughout India. Currently, it has over 50 outlets spread across India's biggest cities.

“We are delighted to have Premji Invest, one of the largest and well respected private equity funds, as a long-term partner. We look forward to leveraging Premji Invest’s playbook on omnichannel across several consumer brands and retail businesses to strengthen our leadership position and establish our pan India presence,” said Ishendra Agarwal, Founder and CEO, GIVA.

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About Giva

In 2019, the silver jewellery retailer GIVA was established by Sachin Shetty, Nikita Prasad, and Ishendra Agarwal. Its mission is to increase access to genuine and beautiful jewellery. GIVA has quickly expanded to rank among the top silver jewellery as well as lab-grown diamond jewellery brands in India.

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