Giva raises Rs 200 crore in Series B funding round

Silver jewellery brand Giva has raised Rs 200 crore in a Series B funding round led by venture capital firm Premji Invest. The funding round saw participation from existing investors Alteria Capital, Aditya Birla Ventures, and A91 Partners and Giva also conducted a secondary sale transaction valued at Rs 70 crore. 

The stakeholders who took part in Giva’s secondary sale have not been disclosed, the Economic Times reported. Giva’s funding round follows on from its previous round where it raised $17 million to aid its omni-channel expansion. 
 
“Silver jewellery is a $4 billion opportunity in India with the organised market share at less than 7%,” said Premji Invest’s principal of investments Varun Khandelwal, ET Tech reported. “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 omni-channel play.” 

Giva counts over 50 brick-and-mortar stores in India. The brand specialises in both traditional and modern style jewellery and its main customer base is millennial and Gen Z shoppers purchasing for everyday wear. The brand’s recent launches include a Zodiac inspired selection of office appropriate jewellery and a range of gold plated, adjustable rings, Giva announced on Facebook.