Bengaluru-based jewellery brand GIVA has raised over $100 million (approximately Rs 975 crore) in a funding round led by Multiples Alternate Asset Management, with participation from existing investors Epiq Capital and Edelweiss Discovery Fund. The investment comes as the company looks to accelerate its offline expansion, strengthen its manufacturing capabilities and scale its presence across India’s organised jewellery market.
The transaction includes both primary and secondary capital, with some of the company’s early investors partially exiting. According to founder and CEO Ishendra Agarwal, the deal also represents an opportunity to provide liquidity to existing shareholders while bringing fresh capital into the business. The company has not disclosed the exact split between the primary and secondary components or its latest valuation, although Agarwal said the round was closed at a premium to its previous valuation.
A key priority for GIVA is expanding its physical retail presence. The company currently operates approximately 425 stores across India and Sri Lanka and is targeting a network of more than 1,000 outlets over the next three to five years. It expects to add around 160 stores in the current financial year.
The expansion will focus on strengthening its presence in Tier 2 markets, where the company sees opportunities to reach consumers beyond major metropolitan cities. Rather than prioritising international expansion in the immediate term, GIVA plans to deepen its reach across the domestic market.
The brand currently follows an omnichannel model, with around 55% of its revenue coming from digital channels, including its website, app, e-commerce marketplaces and quick-commerce platforms. Its offline stores contribute the remaining 45%.
The fresh capital will also support investments in manufacturing and working capital. GIVA operates a manufacturing facility in Jaipur, while some of its production is outsourced. Strengthening in-house manufacturing is expected to help the company improve quality control, production capacity and turnaround times for services such as lifetime plating and made-to-order jewellery.
The fundraise follows a period of strong growth for the jewellery brand. GIVA reported revenue of approximately Rs 865 crore in FY26, compared with around Rs 518 crore in FY25. According to the company, it has recorded a compound annual growth rate (CAGR) of over 70% during the last three years.
The company has continued to see growth in the first half of the current financial year, with double-digit same-store sales growth across its silver and gold jewellery categories, including lab-grown diamonds.
However, profitability remains an important milestone. GIVA reported a single-digit negative EBITDA in FY26, improving from a negative EBITDA of approximately Rs 17 crore in the previous financial year. Agarwal has indicated that the company is working towards turning EBITDA-positive in the next financial year.
