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Giva raises Rs 200 crore in Series B funding round

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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. 

Giva retails a wide range of women’s everyday jewellery – Giva- Facebook

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. 

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