Exclusive: GIVA raising $12 Mn in extended Series C round

Omnichannel jewelry startup Giva is set to raise Rs 110 crore (around $12 million) in its Series C extension round led by HPV CC1 ltd, with the participation from Premji Invest, Kenro Capital, and Titan Capital.

The fresh investment came nine months after GIVA raised Rs 530 crore ($61.5 million) in its Series C round led by Creaegis, with participation from Premji Invest, Epiq Capital, and Edelweiss Discovery Fund in June last year.

The board at Giva passed a resolution to approve the issuance of 94,01,710 Series C1 CCPS at an issue price of Rs 117 each to raise the aforementioned sum, its regulatory filing accessed from RoC shows.

HPV CC1 Ltd will lead the tranche with Rs 74.25 crore ($8.25 million), followed by Kenro Capital, which will invest primary capital of  Rs 13.75 crore. Premji Invest via PI Opportunities Fund  II and Titan Capital via Winners Fund will be injecting Rs 11 crore each. 

The company will use the proceeds for operational expenses, including hiring, marketing, and other general corporate purposes, as per filings.

An ET report in January said the new round is likely to include a secondary transaction led by Kenro Capital.

According to Entrackr’s estimates, the firm’s valuation will rise to around Rs 4,900 crore ($545 million), which represents a 22% increase from its previous valuation of about Rs 4,000 crore when it raised Rs 530 crore.

Queries sent to GIVA did not elicit a response till the time of publication. We will update the story if the company responds.

Founded in 2019, Giva originally launched as an affordable jewelry brand, has expanded into gold jewelry and lab-grown diamonds. Led by Ishendra Agarwal, the company now operates around 150 physical stores across India, alongside its website and app, and has adopted a franchise-led model to further expand its reach.

The Bengaluru-based firm has raised over $146 million to date, including its Rs 255 crore Series B round, which was a mix of primary and secondary transactions led by Premji Invest and Epiq Capital.

For the fiscal year ended March 2025, the jewelry brand’s operating revenue jumped 89% to Rs 518 crore from Rs 274 crore in FY24. However, its losses also grew 22% to Rs 72 crore during the same period.

In the new-age jewellery segment, BlueStone, a competitor of GIVA, went public in August 2025 and reported a 40% rise in revenue to Rs 1,770 crore in FY25, while losses widened 56% to Rs 222 crore. It operates 200+ stores. Meanwhile, CaratLane, a subsidiary of Titan Company Limited, reported Rs 3,583 crore in revenue and runs 350+ stores.

Other new competitors include Palmonas, which recently raised Rs 55 crore in its Series A round, and Firefly Diamonds, which raised $3 million in a seed round led by WestBridge Capital in March last year.