GIVA Raises Over $100 Million Led by Multiples, Reports Rs 865 Crore FY26 Revenue

Bengaluru-based jewellery brand GIVA has raised over $100 million in a funding round led by Multiples Alternate Asset Management, with participation from existing investors Epiq Capital and Edelweiss Discovery Fund.

The company described the fundraise as the largest investment in an Indian new-age jewellery brand.

According to ETRetail, the transaction includes exits for some early investors, taking the overall deal size to approximately Rs 975 crore, as stated by GIVA founder and CEO Ishendra Agarwal.

The company has not disclosed the split between primary and secondary capital or its valuation in the latest transaction. However, Agarwal said the valuation was at a premium to its previous funding round.

GIVA plans to use the fresh capital to expand its offline retail network, strengthen manufacturing capabilities and increase inventory across jewellery categories.

GIVA Plans Rs 100 Crore Investment in Manufacturing

GIVA is planning to invest approximately Rs 100 crore in manufacturing as it looks to increase its production capabilities.

The company currently operates around three manufacturing facilities, which Agarwal described as relatively small. It plans to add further capabilities to improve product quality and reduce the time required to introduce new designs.

Retail expansion is another priority.

GIVA currently operates approximately 425 stores and has added more than 160 stores this year.

Agarwal said the company would continue expanding its offline network, with part of the newly raised capital allocated towards additional stores.

The third investment priority is inventory.

According to Agarwal, rising metal prices are encouraging consumers to consider more affordable fine jewellery options, including silver and lower-carat gold, instead of traditional 22-carat gold jewellery.

GIVA plans to expand its design range across these categories and increase inventory to meet changing consumer preferences.

Funding Round Includes ESOP Buyback and Early Investor Exits

The funding round also includes GIVA’s seventh employee stock ownership plan (ESOP) buyback, which Agarwal said would be the company’s largest so far.

The buyback will provide liquidity to employees, including those who have worked with the company for several years and whose stock options have vested.

As covered by Mint, the transaction combines fresh investment with secondary share sales, allowing some existing shareholders to exit their investments.

The source article identifies India Fortune and Sixth Sense among the early backers receiving exits.

Following the investment, Multiples will join GIVA’s board.

Avendus Capital acted as the exclusive financial advisor to GIVA and its shareholders for the transaction.

GIVA Reports Over 70% CAGR, FY26 Revenue Reaches Around Rs 865 Crore

Founded in 2019, GIVA initially operated as a digital-first silver jewellery brand before expanding into gold jewellery and lab-grown diamonds.

The Bengaluru-headquartered company has recorded a compound annual growth rate (CAGR) of over 70% during the last three years, according to the company.

GIVA reported revenue of approximately Rs 865 crore in FY26, compared with around Rs 520 crore in FY25.

Agarwal separately stated that the company closed FY26 with revenue of approximately Rs 850-860 crore.

The company continued growing at a similar pace during the first half of the current financial year, according to Agarwal.

GIVA is also reporting double-digit same-store sales growth across its silver jewellery and gold jewellery with lab-grown diamonds businesses.

GIVA Targets More Than 1,000 Stores Across India

GIVA sells jewellery through its own website, e-commerce platforms, quick-commerce marketplaces and physical retail outlets.

According to the company’s press release, it operates over 400 stores across India and Sri Lanka, with a presence in more than 80 cities.

Agarwal said its current store network stands at approximately 425 outlets.

As also reported by Moneycontrol, GIVA plans to expand its retail network to more than 1,000 stores across India over the next five years.

The expansion is intended to strengthen the company’s offline presence alongside its existing digital sales channels.

Heer by GIVA Expands Gold and Lab-Grown Diamond Jewellery Business

Alongside its silver jewellery business, GIVA is expanding its gold and lab-grown diamond offerings under Heer by GIVA.

The company began selling gold jewellery with lab-grown diamonds approximately two-and-a-half years ago and established Heer as a separate brand about a year ago.

Agarwal said the company sees an opportunity in the organised market for accessible fine jewellery.

He claimed that Heer by GIVA is currently India’s largest organised lab-grown jewellery brand, while GIVA holds the largest market share in silver jewellery, a segment that remains largely unorganised.

Heer currently offers jewellery made with 9-carat, 14-carat and select 18-carat gold, featuring lab-grown diamonds.

Its products are priced between approximately Rs 10,000 and Rs 30,000.

The company plans to introduce additional designs, higher-carat jewellery and solitaires featuring lab-grown diamonds, targeting a price range of approximately Rs 40,000-50,000.

GIVA Focuses on Jewellery Priced Between Rs 1,000 and Rs 40,000

Agarwal said rising gold prices have increased the entry-level cost of traditional fine jewellery, creating demand for more affordable alternatives.

According to him, the entry price for fine jewellery has increased from approximately Rs 30,000-40,000 to Rs 60,000-70,000.

He believes this shift is expanding the market for jewellery positioned between mass-market fashion accessories and traditional fine jewellery, which is often priced above Rs 50,000.

GIVA is addressing this segment through silver jewellery priced between Rs 1,000 and Rs 10,000 and gold jewellery with lab-grown diamonds priced between Rs 10,000 and Rs 30,000-40,000.

The latest funding will support the company’s plans to expand its retail network, increase manufacturing capacity and strengthen inventory across these product categories.

Frequently Asked Questions (FAQs)

1. How much funding has GIVA raised?

GIVA has raised over $100 million in a round led by Multiples Alternate Asset Management, with an overall transaction size of approximately Rs 975 crore.

2. Who participated in GIVA’s latest funding round?

Multiples Alternate Asset Management led the round, with participation from Epiq Capital and Edelweiss Discovery Fund.

3. How many stores does GIVA operate?

GIVA currently operates approximately 425 stores and plans to expand to more than 1,000 stores across India over the next five years.

4. What was GIVA’s revenue in FY26?

GIVA reported revenue of approximately Rs 865 crore in FY26, while founder Ishendra Agarwal separately cited Rs 850-860 crore.

5. What is Heer by GIVA?

Heer by GIVA is the company’s gold and lab-grown diamond jewellery brand, offering products in 9-carat, 14-carat and select 18-carat gold.