GIVA Jewellery closes extended Series B funding with Rs 255 Cr
GIVA, which competes with Mia and CaratLane in the fine jewellery category, will use the funds for offline expansion, strengthening its lab-grown diamond offerings.
GIVA Jewellery said on Monday it closed an extended Series B funding round at Rs 255 crore from Premji Invest, Epiq Capital, Edelweiss Discover Fund, and the top management of GIVA.
The funding round, comprising 35% primary and 65% secondary investments, saw a partial exit of A91 Partners and India Quotient.
With this, GIVA raised a total of Rs 525 crore in its Series B round, of which Rs 255 crore is from secondary transaction.
The fine jewellery brand will use the funds for its offline expansion plans, augmenting its lab-grown diamond offerings while enabling strategic investor exits.
“Our focus remains steadfast on holding our position as the no.1 silver jewellery player in the market with further fortifying our lab-grown diamond segment, broadening our gold offerings, and consolidating our market presence,” said Ishendra Agarwal, Founder and CEO of GIVA Jewellery.
In July 2023, the company had raised Rs 270 crore, where Rs 200 crore came from a Series B funding round led by Azim Premji’s family office, Premji Invest. The round had Rs 70 crore from secondary sales of shares to facilitate partial exits for early shareholders, it had shared in a statement.
YourStory had reported earlier that the new round in July valued the company at slightly over $250 million, a 2X jump from its previous valuation.
(The copy was updated to correct a spelling error.)
Edited by Suman Singh