DBT Bureau
Bengaluru, 15 October 2024
Leading jewellery brand, GIVA Jewellery has raised Rs 255 crore as part of its extended Series B funding led by Premji Invest.
New investors like Epiq Capital, Edelweiss Discover Fund, and the company’s top management also joined this round of funding, the company said in a press release.
This funding round, comprising 35% primary investment and 65% secondary investment, also saw the partial exit of A91 Partners and India Quotient, the release added.
This capital infusion will help GIVA in its expansion plans, bolstering its offline presence across India, augmenting its lab-grown diamond offerings, and enabling strategic investor exits. GIVA has a sound retail presence in 150 stores.
“We welcome Premji Invest and Epiq Capital as valued partners, leveraging their expertise to propel our ascent. 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,” Ishendra Agarwal, Founder & CEO of GIVA Jewellery said.
“We are impressed by GIVA team’s strong commitment and relentless drive to build a best-in-class shopping experience for fine jewellery customers. We are excited to increase our investment as we partner with GIVA on their growth journey,” said Kaveesh Chawla, Partner, Premji Invest.
“We are excited to partner with Ishendra and the team at GIVA Jewellery in their journey to deliver exceptional customer experience through a trifecta of new age designs, superior quality and affordable pricing. Ishendra’s relentless focus on customer delight, attention to detail and use of tech across the value chain has resulted in a superlative and consistent value proposition for the GIVA customer,” Rishi Navani, Managing Partner & Founder of Epiq Capital.
