Giva’s Series C Extension Round: A New Milestone in the Omnichannel Jewelry Sector
Giva is preparing to secure Rs 110 crore (approximately $12 million) in its Series C extension round, which is being led by HPV CC1 Ltd. This round also sees investments from Premji Invest, Kenro Capital, and Titan Capital. This fresh influx of funds arrives nine months after Giva amassed Rs 530 crore ($61.5 million) in its initial Series C round, which was led by Creaegis with backing from Premji Invest, Epiq Capital, and Edelweiss Discovery Fund back in June of last year.
According to a regulatory filing accessed from RoC, Giva’s board has sanctioned the issuance of 94,01,710 Series C1 CCPS at an issue price of Rs 117 each to raise the aforementioned capital. HPV CC1 Ltd. is set to contribute Rs 74.25 crore ($8.25 million), closely followed by Kenro Capital with a primary investment of Rs 13.75 crore. Additionally, Premji Invest through PI Opportunities Fund II and Titan Capital via Winners Fund will each inject Rs 11 crore into the venture. This capital will be directed towards operational needs, which include recruitment, marketing, and various corporate purposes.
An ET report from January indicated that this latest round could feature a secondary transaction led by Kenro Capital. Startup Superb estimates that Giva’s valuation will surge to approximately Rs 4,900 crore ($545 million), marking a 22% increase from its prior valuation of Rs 4,000 crore when it raised Rs 530 crore.
As of the time of publication, queries sent to Giva had not received a response, but updates will be provided if the company reacts.
Established in 2019, Giva was launched as an affordable jewelry brand and has since diversified into gold jewelry and lab-grown diamonds. Under the leadership of Ishendra Agarwal, the brand now boasts around 150 physical outlets across India, in addition to its online platform and app. It has also embraced a franchise-led model to expand its market presence.
Based in Bengaluru, Giva has successfully raised over $146 million to date, including its Rs 255 crore Series B round, which comprised both primary and secondary transactions led by Premji Invest and Epiq Capital. In the fiscal year ending March 2025, Giva’s operational revenue soared by 89% to Rs 518 crore, up from Rs 274 crore in FY24. However, losses rose by 22% to Rs 72 crore during the same timeframe.
In the realm of modern jewelry, Giva faces competition from BlueStone, which went public in August 2025 and reported a remarkable 40% revenue increase to Rs 1,770 crore for FY25, despite experiencing a 56% loss growth up to Rs 222 crore. BlueStone operates more than 200 stores. CaratLane, a subsidiary of Titan Company Limited, reported revenues of Rs 3,583 crore and manages over 350 stores.
New competitors are also entering the marketplace, such as Palmonas, which recently secured Rs 55 crore in its Series A round, and Firefly Diamonds, which raised $3 million in a seed round led by WestBridge Capital in March of last year.
