Key Takeaways
- • Indian fine jewellery retailer GIVA raised over $100 million in a funding round led by Multiples Alternate Asset Management, according to the company's announcement.
- • Existing investors Epiq Capital and Edelweiss Discovery Fund also participated in the round.
- • Proceeds will fund expansion of GIVA's offline retail footprint, in-house manufacturing capabilities and inventory across product categories.
- • GIVA operates over 400 stores across India and Sri Lanka and plans to exceed 1,000 outlets within three to five years.
- • The latest transaction follows a $28 million multi-tranche debt round in May and a Series C of nearly $62 million (Rs 530 crore) led by Creaegis in June of the prior year; Avendus Capital advised on the deal.
Summary
Indian fine jewellery retailer GIVA has raised over $100 million in a funding round led by Multiples Alternate Asset Management, according to an announcement by the company. Existing investors Epiq Capital and Edelweiss Discovery Fund also took part in the round. Avendus Capital advised GIVA on the transaction.
The fresh capital will be used to expand the company's offline retail footprint, strengthen its in-house manufacturing capabilities and build inventory across product categories. GIVA currently operates more than 400 stores across India and Sri Lanka, spanning Tier I and Tier II markets, and plans to grow its retail network to more than 1,000 outlets over the next three to five years.
Founded in 2019 by Ishendra Agarwal and Nikita Prasad, GIVA began as a digital-first silver jewellery business. Agarwal, founder and CEO, said the company has since expanded into silver, gold and lab-grown diamonds, and cited strong consumer and investor confidence in the proposition.
The new round follows a series of prior financings. GIVA raised $28 million through a multi-tranche debt funding round in May of this year to support growth, expansion and operational development. Last June, the company raised nearly $62 million (Rs 530 crore) in a Series C round led by growth-stage investment firm Creaegis.
The fresh capital will be used to expand the company's offline retail footprint, strengthen its in-house manufacturing capabilities and build inventory across product categories. GIVA currently operates more than 400 stores across India and Sri Lanka, spanning Tier I and Tier II markets, and plans to grow its retail network to more than 1,000 outlets over the next three to five years.
Founded in 2019 by Ishendra Agarwal and Nikita Prasad, GIVA began as a digital-first silver jewellery business. Agarwal, founder and CEO, said the company has since expanded into silver, gold and lab-grown diamonds, and cited strong consumer and investor confidence in the proposition.
The new round follows a series of prior financings. GIVA raised $28 million through a multi-tranche debt funding round in May of this year to support growth, expansion and operational development. Last June, the company raised nearly $62 million (Rs 530 crore) in a Series C round led by growth-stage investment firm Creaegis.
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