[Funding alert] GIVA closes Series B round from Aditya Birla Ventures, A91 Partners, Sixth Sense Ventures
Bengaluru-based online silver jewellery-focused startupon Wednesday announced the completion of its undisclosed Series B funding round led by Aditya Birla Ventures and A91 Partners, along with the participation of Sixth Sense Ventures.
The brand had concluded its Series A funding round at the start of 2022.
Having achieved a revenue of Rs 100 crore in FY21-22, GIVA Jewellery said it plans to deploy the raised capital in driving channel expansion and further diversifying its range of beautifully crafted jewellery pieces to enter new categories.
With this latest capital infusion, customers can expect GIVA to increase its digital and physical presence further and enhance its product range by expanding into new categories that are gaining preference among youth today.
Founded by the trio of Ishendra Agarwal, Nikita Prasad, and Sachin Shetty in 2019, the company claims to offer an exclusive jewellery collection of rings, necklaces, earrings, bracelets, and pendants crafted using 925 hallmark silver and stones.
Commencing operations as a solely online platform, GIVA has established an offline presence now through its network of three exclusive stores in Bengaluru, and partnerships with retail giants like Shoppers Stop and Reliance Trends for a national presence.
Ishendra Agarwal, Founder, GIVA, said,
“As a brand, GIVA has grown by leaps and bounds in the challenging post-COVID period, thanks to peerless unit economics and a passionate team that is spearheading various initiatives across online and offline retail channels. We believe the time is ripe to expand our operations and product lineup, in turn, making GIVA a household name when it comes to silver jewellery.”
Aryaman Vikram Birla, Founder of Aditya Birla Ventures, added, “With a strong focus on product, customer-centricity, and engagement, GIVA is one of the fastest-growing silver jewellery brands nationally. The investment is in line with our vision to back outstanding founding teams building leading businesses of tomorrow.”