Bengaluru-based omnichannel jewellery brand GIVA is set to raise ₹110 crore (approximately $12 million) in an extended Series C funding round, further strengthening its war chest as competition intensifies in India’s fast-evolving jewellery market.
The round is being led by HPV CC1 Ltd, with participation from Premji Invest, Kenro Capital, and Titan Capital. This fresh infusion comes just nine months after GIVA raised ₹530 crore ($61.5 million) in its Series C round in June last year — signaling sustained investor confidence in the brand’s growth trajectory.
Credits: Ascendants
Board Approval and Investment Details
According to regulatory filings accessed from the Registrar of Companies, GIVA’s board has approved the issuance of 94,01,710 Series C1 compulsorily convertible preference shares at an issue price of ₹117 per share. The move is aimed at raising the proposed ₹110 crore.
HPV CC1 Ltd will anchor the tranche with ₹74.25 crore (around $8.25 million). Kenro Capital will invest ₹13.75 crore as primary capital, while Premji Invest — through PI Opportunities Fund II — and Titan Capital — via Winners Fund — will contribute ₹11 crore each.
An earlier report in January had indicated that the round could also include a secondary transaction led by Kenro Capital, suggesting potential liquidity for some existing shareholders.
The company plans to deploy the fresh capital toward operational expenses, including hiring, marketing initiatives, and general corporate purposes — areas critical for scaling a consumer-facing retail brand.
Valuation Climbs to ₹4,900 Crore
With this funding extension, GIVA’s valuation is estimated to touch ₹4,900 crore (approximately $545 million). This represents a 22 percent jump from its previous valuation of about ₹4,000 crore during its ₹530 crore Series C raise.
The valuation bump reflects not only revenue momentum but also investor optimism around India’s growing appetite for affordable, design-forward jewellery and lab-grown diamonds.
To date, GIVA has raised more than $146 million in total funding, including a ₹255 crore Series B round led by Premji Invest and Epiq Capital, which combined primary and secondary transactions.
From Affordable Silver to Gold and Lab-Grown Diamonds
Founded in 2019 by Ishendra Agarwal, GIVA began as an affordable jewellery brand focused primarily on silver pieces targeted at young consumers seeking stylish yet accessible designs.
Over time, the brand strategically expanded into gold jewellery and lab-grown diamonds — a segment gaining traction among environmentally conscious and value-driven buyers. This product diversification has allowed GIVA to move up the value chain while retaining its appeal among Gen Z and millennial customers.
Its positioning blends affordability with aspiration — a formula that has resonated strongly in the digital-first retail landscape.
Omnichannel Expansion and Franchise-Led Growth
GIVA has built a strong omnichannel presence across India. The company currently operates around 150 physical stores nationwide, alongside its website and mobile application.
Adopting a franchise-led expansion model has enabled the brand to scale its offline footprint faster, particularly in tier-2 and tier-3 cities. This hybrid strategy — combining online discovery with offline experience — has become increasingly important in jewellery retail, where customers often prefer to see and try products before purchase.
The offline push also strengthens brand visibility and trust, key factors in a category traditionally dominated by legacy players.
Revenue Soars, Losses Widen
For the financial year ended March 2025, GIVA reported an 89 percent surge in operating revenue to ₹518 crore, up from ₹274 crore in FY24.
However, growth has come at a cost. Net losses widened 22 percent to ₹72 crore in FY25. The increased losses reflect heavy investments in store expansion, marketing, and talent acquisition — a common pattern among fast-scaling consumer brands.
Investors appear willing to back this growth-first strategy, betting on long-term profitability once scale efficiencies kick in.
Rising Competition in New-Age Jewellery
GIVA operates in a rapidly evolving jewellery segment that has attracted both investor interest and public market attention.
Rival brand BlueStone went public in August 2025. The company reported a 40 percent rise in revenue to ₹1,770 crore in FY25, though its losses expanded 56 percent to ₹222 crore. BlueStone currently operates over 200 stores.
Meanwhile, CaratLane, a subsidiary of Titan Company Limited, reported revenue of ₹3,583 crore and runs more than 350 stores.
The segment has also seen newer entrants like Palmonas and Firefly Diamonds securing funding, further intensifying competition.
Credits: Startup Stories
A Glittering Road Ahead?
With fresh capital, a rising valuation, and aggressive offline expansion, GIVA is positioning itself as a serious contender in India’s omnichannel jewellery race.
The challenge ahead lies in balancing rapid growth with profitability — but for now, investor confidence suggests that GIVA’s shine is only getting brighter.
