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[Update] D2C Jewellery Startup GIVA Nets INR 530 Cr From Creaegis, Others
- D2C jewellery startup GIVA raised INR 530 Cr in its latest funding round led by Creaegis.
- Existing investors like Premji Invest, Epiq Capital, and Edelweiss Discovery Fund also participated.
- The funds will be used to enhance retail and digital presence, upgrade supply chain tech, and expand product offerings.
- GIVA plans to open 145-150 stores targeting tier II cities, adding to its current 240+ stores.
- COO Aditya Labroo has been promoted as a co-founder of the Bengaluru-based startup.
- GIVA is valued at $374 Mn, up from $254 Mn in its last funding round.
- A resolution was passed to issue Series C CCPS to raise INR 450 Cr, with Creaegis leading the investment.
- Premji Invest and Epiq Capital are among the backers injecting funds.
- GIVA widened its product range to include gold and lab-grown diamond jewellery alongside silver.
- Currently, GIVA operates 199 stores across tier I & II cities and sells through various channels including its website and shop-in-shop setups.
- The company raised funding from Alteria Capital and Northern Arc earlier to expand its retail presence.
- GIVA's operating revenue increased by 66% YoY to INR 273.6 Cr, but its net loss widened due to increased metal procurement costs.
- The Indian online jewellery market sees GIVA competing with various players like Palmonas, Voylla, and BlueStone.
- BlueStone, GIVA's competitor, is preparing for a public listing in 2025 after receiving SEBI approval.
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