Jewellery brand GIVA raises Rs 270Cr from Azim Premji's Premji Invest

Bengaluru-based silver jewellery startup Giva has raised a total of Rs 270 crore, including a mix of secondary sale transactions worth Rs 70 crore, in a series B funding round Azim Premji's Premji Invest with participation from existing investors such as Aditya Birla Ventures, Alteria Capital, and A91 Partners.

The brand plans to use the raised capital to expand its omnichannel presence and consolidate its position as the go-to platform for minimalistic jewellery and affordable gifting options.

Founded in 2019 by Ishendra Agarwal, Nikita Prasad and Sachin Shetty, Recently, It raised $17 million in an earlier funding round, attracting investment from notable entities like AngelList, IQ Capital, Titan Capita, and India Quotient.

This new investment in Giva reflects a growing trend among direct-to-consumer (D2C) companies to engage in omnichannel strategies, especially in response to a drop in demand within the clothing and jewellery sectors. Notably, Giva goes up against competitors such as Melorra and BlueStone in the nation's online-first jewellery market.

“Silver jewellery is a $4 billion opportunity in India with the organised market share at less than 7%... Giva has emerged as a category leader with its focus on fine silver jewellery, design offerings and customer-centricity. We are excited to partner with Giva in its next growth phase and help build a leader in the space with a truly omnichannel play,” said Varun Khandelwal, Principal, Investments, Premji Invest, in a statement.

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