Lab-grown diamonds seller Giva raises $53-M led by Creaegis
Bengaluru-headquartered D2C (direct-to-consumer) jewellery brand Giva has raised USD 53 million (INR 450 crore) in its Series C funding led by Creaegis (via CIF II Scheme) investing INR 235 crore (USD 27.6 million), with participation from Premji Invest, investing INR 125 crore (USD 14.7 million), Epiq Capital investing INR 45 crore, Edelweiss Private Equity (via Edelweiss Discovery Fund) investing INR 35 crore and Usha Dalmia Trust, INR 10 crore.The company will issue 1,73,430 Series C CCPS at INR 25,947 per share. Post allotment, the company is to be valued at USD 465 million (INR 3,950 crore)The fresh funds will be used by the company for operational expenses, hiring, marketing and other expenses.Founded in 2019 by Ishendra Agarwal, Nikita Prasad and Sachin Shetty, Giva specialises in 14K and 18k gold and lab-grown diamond jewellery. It operates 199 stores across Bengaluru, Pune, Hyderabad, Mumbai, Delhi NCR, Ahmedabad, Dehradun, Surat and Indore.
Between Dec 2019 and Sep 2024, GIVA had raised about USD 102-M from A91 Partners, Aditya Birla Ventures, Alteria Capital, PremjiInvest and others.For FY24, GIVA had reported about INR 274 Cr in Operating Income and about INR 58 Cr in Net Loss.
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