PE-VC Fund Investments
Jewellery brand Goyaz raises Rs.130-Cr in Series A round led by Norwest
Hyderabad-based gold-plated silver jewellery brand Goyaz has raised INR 130 crore in Series A funding round led by Norwest, marking the company's first institutional funding.Founded in 2023 by Priyanka Vemuluri and Ravi Vemuluri Goyaz claims to craft jewellery from high-quality silver plated in gold and currently operates a network of 18 stores across various States.The new funds will be used to expand its retail footprint in different cities, strengthen its design and manufacturing capabilities, accelerate growth, diversify its portfolio, and deepen its brand presence across both metro and tier-II markets.
For FY24, Goyaz Silver Jewellery had reported about INR 72 Cr in Operating Income and about INR 5 Cr in PAT.
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