VC Fund Investments
Lab-grown diamonds seller Giva raises Rs.102-Cr from Alteria, Northern Arc Capital
Bengaluru-headquartered D2C (direct-to-consumer) jewellery brand G iva, has raised INR 102 crore (about USD 11.7 million) in a mix of equity and debt from Alteria Capital and Northern Arc. Alteria Capital, via its Fund III, will invest INR 52 crore in equity and the remaining INR 50 crore in debt will come from Northern Arc Capital.The fresh funds will be used for general corporate purposes and setting up new retail outlets.Founded in 2019 by Ishendra Agarwal, Nikita Prasad and Sachin Shetty, Giva specialises in 14K and 18k gold and lab-grown diamond jewellery. It currently operates 199 stores across cities including Bengaluru, Pune, Hyderabad, Mumbai, Delhi NCR, Ahmedabad, Dehradun, Surat and Indore.
Between Dec 2019 and Sep 2024, GIVA had raised about USD 91-M from A91 Partners, Aditya Birla Ventures, Alteria Capital, PremjiInvest and othersFor FY24, GIVA had reported about INR 274 Cr in Operating Income and about INR 58 Cr in Net Loss.
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