GIVA Jewellery, known for its fine silver jewellery, has successfully raised Rs 255 crore in an extended Series B funding round. The investment was led by Premji Invest, EPIQ Capital, Edelweiss Discover Fund and members of GIVA’s senior management. This funding round included 35% primary investment and 65% secondary investment, which enabled the partial exit of previous investors A91 Partners and India Quotient.

Although GIVA did not disclose the exact valuation of this round, the company confirmed that the funds were raised at a higher valuation than previously. The capital injection aims to support GIVA’s expansion plans, particularly its offline retail presence across India, strengthen its synthetic diamond offering and facilitate investor exits.

In 2023, GIVA entered the synthetic diamond and gold jewelry business.

According to Tracxn data, GIVA’s valuation in April 2023 was $172 million. The company had already raised ₹200 crore in July 2023 from Premji Invest in a previous Series B funding round. With this new investment, GIVA aims to further establish itself in the fine jewelry sector, with the intends to increase its presence in the silver and synthetic diamond markets.

GIVA has expanded its retail presence, now boasting 150 stores across the country, and introduced a franchise model. The company also enhanced its manufacturing capabilities and launched lifetime plating services to enhance customer offering.

In a statement, Ishendra Agarwal, Founder and CEO of GIVA Jewellery, said: “This investment is a resounding endorsement of GIVA’s transformative vision for the fine jewelry industry. We welcome Premji Invest and EPIQ Capital as valuable partners, leveraging their expertise to propel our rise.

Kaveesh Chawla, Partner at Premji Invest, said: “We are impressed by the strong commitment of the GIVA team and their relentless drive to create a best-in-class shopping experience for fine jewelry customers. We are excited to increase our investment as we partner with GIVA on their growth journey.

Going forward, GIVA will prioritize strengthening its synthetic diamond segment through strategic partnerships and innovations, expanding its gold offering to meet discerning consumers, and strengthening its market presence through initiatives targeted marketing.