Funding Alert
D2C Jewelry Brand GIVA Raises Rs. 270 Crore In a Series B Round Led By Premji Invest
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ByStartupStory | July 5, 2023
To empower their expanding business, GIVA has successfully raised INR 200 crore in a Series B round. The prominent family office of Azim Premji was involved in the funding. Other well-known and existing investors, like Alteria Capital and A91 Partners, were also a part of this round.
The additional Rs. 70 crore was part of the secondary component of the round. This was achieved through secondary sales transactions that provided partial exits to primary shareholders.
Talking about the investment, the founder of GIVA, Ishendra Aggarwal remarked, “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 jewelry and affordable gifting options.”
With a significant financial influx, the company aims to expand its offline presence and provide a phytigal (physical and digital) experience to its users. The current round will facilitate the establishment of more than 400 offline stores across tier 1 and tier 2 cities.
Previously valued at $133 million, according to Tracxn, GIVA had raised almost $17 mn from different investors like IQ Capital, AngelList, India Quotient, Titan Capital.
This Bangalore-based online jewelry brand, established in 2019, primarily deals in silver jewelry and aims to expand its omnichannel presence and reach a wider audience through offline stores. “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,” Varun Khandelwal, Principal at Premji Invest, added.
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