e-commerce silver jewellery, Giva has just come out to announce that the company has successfully ended their round B of funding for an undisclosed amount. This round was primarily led by Aditya Birla Ventures and A91 Ventures. Sixth Sense Ventures also took part in this round.
The Round A funding of the company took place at the start of the year.
For the fiscal year that ended in 2022, the company was able to rake in a revenue of Rs. 100 crores. When asked what they plan to do with the new funds, the company said that they will first put the money into scaling up their business so they can grow even more. They also said that they plan to focus on improving the range of jewellery that they have so they can appeal to more customers in the country and get in to more sub categories of the jewellery sector in the country.
They plan to ramp up their online and physical presence and enter the main stream of the industry in India. More people are preferring Giva over other companies; especially the youth of the country and they plan to increase their range of styles to appeal to these people.
Giva is a silver jewellery seller and natural diamond company. They create, design and sells jewellery and try to make them affordable and accessible. The company was founded 3 years ago back in 2019, and just like many more start-ups, its head office is situated in Bangalore.
The main positive of the company that has set them apart from the competition is their convenience. Any product that is ordered from their website is delivered to the customer’s door step and they also have a 30 day return policy with no questions asked.
The company has a strong offline presence and they even partnered with some of the biggest retailers in India such as Shopper’s Stop and Reliance Trends to further their reach all over the nation.
The founder of the company, Mr. Ishendra Agarwal said that the company has been able to progress a lot in spite of the difficulties of working through the covid period. He thanked everyone who works at the company for their passion for jewellery and the tireless work that they put in. He also said that he thinks that the time is perfect for the company to start their expansion and make Giva in to a household brand.