Ishendra Agarwal, along with co-founders Nikita Prasad and Sachin Shetty, established GIVA in 2019, recognizing a gap in the market where gold-centric brands like Tanishq and Kalyan Jewellers dominated, leaving a void in silver-focused branded retail.

Agarwal noted that the silver segment was largely unorganized and dominated by small players, lacking standardized quality and consumer trust. This presented an opportunity for GIVA to introduce quality and reliability to consumers in this segment, aiming to provide silver items with the same standards of quality found in gold and diamond jewellery.

In India's vast jewellery market, Agarwal highlighted that local players hold the majority of the market share, with large branded players having only a small portion. Despite the $100 billion market size, organized players like Titan, Malabar, Kalyan, and GIVA combined account for just 10% market share, indicating a shift towards organized players as consumers increasingly prioritize trust and quality.

Agarwal emphasized the importance of trust in branded companies over local shops, attributing the gradual organization of the jewellery industry to consumers' trust in established brands. He pointed out that only 8-10% of the jewellery market is organized, with silver comprising 12-13% of the overall market.

GIVA, currently operating over 80 retail stores in India, secured $35 million in its Series B funding round in April last year, with investors including Premji Invest, Alteria Capital, and A91 Partners.