GIVA Jewellery has chalked out pans to expand its product lines and also make inroads into new market. As part of its expansion plan, the startup has raised a venture debt fund from Alteria Capital amounting to Rs 40 crore.
The Jewellery brand startup, claims to have an omnichannel presence with over 50 offline touchpoints active across India and expects this number to exceed 200 by the end of 2023, with revenues of Rs 350 crore in FY24.
“We plan to deploy the raised capital in driving channel expansion and further expanding our range of exquisitely crafted jewellery products,” said Ishendra Agarwal, Co-founder of GIVA Jewellery.
GIVA Jewellery ‘s collection includes earrings, necklaces, bracelets, and rings, crafted from sterling silver for everyday wear. The company has raised $17.5 million till date from investors like A91, Sixth Sense, Aditya Birla Ventures, Anicut and India Quotient.
GIVA Jewellery to expand omnichannel presence
“We believe Giva is well poised to play a pivotal role in bringing fine jewellery to the masses in India and has been able to make great inroads in both offline and online channels across the country,” said Ankit Agarwal, Managing Partner of Alteria Capital.
Alteria Capital has a corpus of Rs 3800 crore across three funds. It recently had the first close of its third fund of Rs 1000 crore from domestic investors and has backed over 120 companies across sectors and stages. Some of the companies it has backed include Rebel Foods, Mensa Brands, Believe, Mosaic Wellness, Sleep Company, Niyo, Country Delight, Kapiva, and Jupiter.
GIVA Jewellery, with the latest funding, plans to continue expanding its market presence and product offerings in the coming years.