GIVA Jewels: Sparkling Expansion Fueled by Rs 255 Crore Funding

GIVA, a jewellery retailer, has raised Rs 255 crore in funding to expand its offline market presence and enhance lab-grown diamond offerings. Led by Premji Invest and others, the Series B round also enabled exits for early investors. The company aims to remain a leader in silver jewellery and grow its gold portfolio.

Jewellery retailer GIVA announced on Monday that it has successfully raised Rs 255 crore in a funding round aimed at expanding its offline presence and boosting its offering of lab-grown diamonds.

The extended Series B funding round was spearheaded by Premji Invest, Epiq Capital, and Edelweiss Discover Fund, with participation from GIVA's top management. This round facilitated partial exits for early investors A91 Partners and India Quotient.

GIVA's plans include expanding across India and delivering strategic investor exits, said the company in a statement. 'Our focus remains on holding our position as the number one silver jewelry player while enhancing our lab-grown diamond segment,' said Founder and CEO Ishendra Agarwal. The company also aims to broaden its gold offerings to consolidate its market presence. GIVA did not disclose the new valuation or the scale of the stakes sold by existing investors.

(With inputs from agencies.)