Giva raises Rs 225 crore in extended series B funding round

Jewellery brand Giva has raised Rs 225 crore in its extended series B funding round, which saw numerous new investors join. The business plans to use the capital to continue to expand its brick-and-mortar presence across India and to expand its lab grown diamond offerings.

“The two major areas where we will make investments using this capital: we will continue our offline expansion journey and the expansion of our lab grown diamond offerings,” Giva’s CEO Ishendra Agarwal told the Economic Times. The business did not disclose its current valuation but global data platform Tracxn valued it at $172 million in July last year.
 
The series B funding round was led by Premji Invest and new investors included Edelweiss Discover Fund and Epiq Capital. The business’ top management also joined in the funding round which was made up of 65% secondary transactions and 35% primary investments. Giva had raised Rs 200 crore as part of the series B funding round in July.
 
“We position ourselves as a value-driven, accessible brand for Indian women where if they want to buy fine jewellery at a more accessible price range, then they come to Giva,” said Agarwal. “That was our thesis behind launching lab grown diamonds as well.”