The round values GIVA at approximately $374 million (around Rs. 3,120 crore), marking a 47% jump from its October 2024 valuation of $254 million. The investment will be secured through the issue of Series C compulsorily convertible preference shares, priced at Rs. 25,947 apiece.

Founded in 2019 by Ishendra Agarwal, Nikita Prasad, and Sachin Shetty, GIVA started with sterling silver jewellery and has since forayed into 14K and 18K gold and lab-grown diamond categories. The brand has rapidly scaled its omnichannel presence, now operating 199 stores across metros and Tier II cities, along with an online platform and shop-in-shop models at retail chains like Shoppers Stop.

Despite strong top-line growth, the startup is navigating profitability challenges. GIVA posted a 66% rise in operating revenue to Rs. 273.6 crore in FY24, while its net loss widened to Rs. 58.7 crore, largely due to rising raw material costs.

This new round follows a Rs.102 crore infusion earlier this year from Alteria Capital and Northern Arc. With this latest funding, GIVA’s total capital raised to date crosses $100 million. It competes in a crowded market alongside players like CaratLane, BlueStone, Kushal’s, and Palmonas.

The company has not publicly commented on the upcoming raise, but the move is seen as part of its strategy to deepen market share and gear up for long-term expansion, as competition in India’s D2C jewellery space continues to heat up.