Series C round led by Creaegis
- Bengaluru‑based omnichannel jewelry startup GIVA has raised ₹450 crore (~$53 million) in a Series C round led by Creaegis’s CIF II Scheme, with significant participation from Premji Invest, Epiq Capital, Edelweiss Discovery Fund, and Usha Dalmia Trust
Valuation doubles from previous round
- This latest funding values GIVA at approximately ₹3,950 crore (~$465 million)—about twice its valuation during the previous round
Capital structure and deployment
- The board authorised issuing 1,73,430 CCPS at ₹25,947/share
- The capital will be used for operational expansion—hiring, marketing, franchise outreach, and general corporate needs
Debt infusion & ESOP expansion
- GIVA also secured ₹30 crore in debt from Alteria Capital and expanded its ESOP pool by 15,853 shares (worth ₹41 crore), raising ESOP valuation to ₹203 crore (~$24 million)
Strong growth trajectory
- Founded in 2019 by Ishendra Agarwal, GIVA began as an affordable silver jewelry brand and has since diversified into gold pieces and lab-grown diamonds
- Today, it operates approximately 150 physical stores, alongside a robust online presence, and utilizes a franchise-driven expansion model
Funding history & financials
- GIVA has raised over $85 million in total to date
- For fiscal year 2023–24, revenues rose 66% to ₹274 crore; however, losses increased over 30% to ₹59 crore, mainly due to scaling and marketing expenditure
Competitive mix & market positioning
- GIVA competes with players like Bluestone (which recently filed a ₹1,000 crore IPO DRHP), CaratLane, Melorra, and other funded and traditional brands