Gold-plated silver jewellery brand Goyaz raises Rs 130 Cr led by Norwest

Gold-plated silver jewellery brand Goyaz has raised Rs 130 crore ($14.6 million) in Series A funding round led by Norwest. The round marks Goyaz’s first institutional investment.

The fresh capital will be utilized to expand its retail footprint across key Indian cities, strengthen its design and manufacturing capabilities, and further enhance its omnichannel experience, Goyaz said in a press release.

Launched in January 2023 by Priyanka Vemuluri, Goyaz is a jewelry brand that specializes in gold-plated silver jewelry, particularly bridal and contemporary designs. It has expanded its retail presence across several states in India. The brand focuses on combining traditional craftsmanship with modern design and aims to be a leading, trusted name in the Indian silver jewelry market. 

The Hyderabad-based brand combines traditional craftsmanship with modern aesthetics, its products are BIS hallmarked and certified, and Offers customer services such as a 55% exchange value on products and lifetime services on stones.

Goyaz states that it has rapidly expanded to 18 stores across multiple states, redefining how Indian consumers experience occasion jewellery.

“Their partnership empowers us to broaden the reach of our meticulously crafted occasion jewellery. With Norwest’s strategic guidance, we aim to accelerate growth, diversify our collections, and strengthen our retail presence across key markets. Our mission remains to make premium craftsmanship accessible to every Indian household,” said Priyanka Vemuluri, founder and CEO of Goyaz. 

Norwest India is part of Norwest Venture Partners, a  global venture and growth equity investment firm managing more than $12.5 billion in capital. With a multi-stage investment approach, it partners with entrepreneurs across sectors including consumer, healthcare, and technology.