The D2C jewelry startup GIVA raised 530 Crore in funding in its latest funding round, led by Creaegis, which contributed Rs 235 crore, along with backing from its existing investors Premji Invest, Epiq Capital and Edelweiss Discovery Fund.
According to GIVA, “The fresh funding will be used to grow its retail and digital footprints, enhance its supply chain capabilities, and improve its lab-grown diamond offerings.”
The company is planning to open 140-150 stores this year; currently, it has more than 240 stores in the country.
Giva, recognized as a luxury yet affordable jewelry brand for customers, is primarily targeting tier-2 cities for its offline expansion. The company has appointed Aditya Labroo, the chief operating officer, as a co-founder; he has over 10 years of experience and joined GIVA five years ago after working with brands like Deloitte, Deutsche Bank, and Citibank.
This fresh funding increases the company’s valuation by approx. 82%. The valuation of the company after the Series B extension, which raised the amount to 255 crore, was 2170 crore ($260 million), and after the latest Series C funding round, which raised 530 crore, the company’s estimate increased to Rs 3950 crore.
