GIVA Jewellery, a fine silver jewellery brand, has raised ₹200 Crores in Series B funding led by Premji Invest to innovate further and expand its product categories and offerings.
The round also saw participation from existing investors Aditya Birla Ventures, Alteria Capital, and A91 Partners. This investment will empower GIVA to expand its omnichannel presence with more offline stores and consolidate its position as the go-to platform for minimalistic jewellery and affordable gifting options, said the company.
“We look forward to leveraging Premji Invest’s playbook on omnichannel across several consumer brands and retail businesses to strengthen our leadership position and establish our pan-India presence,” said Ishendra Agarwal, Founder, and CEO, GIVA.
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GIVA provides a range of certified and curated offerings in silver jewellery with a lifetime replating service and 6 month’s warranty. GIVA works with designers around the world and launches more than 250 new designs every month. Today, GIVA has more than 50 stores across top cities in India and plans to expand its presence across India over the next five years, said the company.
“Silver jewellery is a $4 billion opportunity in India with the organised market share at less than 7%. Silver jewellery offers an attractive alternative to other fine jewellery options, such as gold, platinum, etc., at an affordable price point for casual and everyday usage,” said Varun Khandelwal, Principal – Investments, Premji Invest.