D2C jewellery brand GIVA has raised ₹102 Cr (around $11.7 Mn) in a mix of equity and debt funding. The funding includes ₹52 Cr from Alteria Capital and ₹50 Cr from Northern Arc Capital. The company plans to use these funds to open new stores across Tier I and II cities like Bengaluru, Pune, Hyderabad, Mumbai, Delhi NCR, and others. Backed by Premji Invest, GIVA has seen strong growth, with its revenue reaching ₹273.6 Cr in FY24, a 66% increase from the previous year. However, its net loss also grew by 30% to ₹58.7 Cr due to rising metal costs. Founded in 2019 by Ishendra Agarwal, Nikita Prasad, and Sachin Shetty. GIVA started with fine silver jewellery and later expanded into gold and lab-grown diamonds. It competes with brands like CaratLane, Kushal’s, and Voylla in India’s growing online jewellery market, which is expected to hit $3.7 Bn by 2025. This funding comes as the industry sees increased activity, with BlueStone preparing for a ₹1,000+ Cr IPO. #success #startups #business
