GIVA Jewellery, leading fine silver jewellery brand, announced today that it has raised INR 200 Crores in Series B funding led by Premji Invest to innovate further and expand its product categories and offerings. The round also saw participation from existing investors Aditya Birla Ventures, Alteria Capital and A91 Partners.
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 jewellery and affordable gifting options.
“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.
Customer’s are increasingly looking for newer designs and variety for office wear, casual wear and everyday wear jewellery. GIVA provides the largest range of certified and curated offerings in silver jewellery with a lifetime replating service and 6 months warranty. GIVA works with leading designers around the world and launches over 250 new designs every month. The platform's user-friendly interface, seamless shopping experience, and focus on customisation have set it apart in an increasingly competitive market. Today, GIVA has over 50 stores across top cities in India and plans to expand its presence across India over the next five years.
“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.