GIVA, a Bengaluru jewellery brand selling silver, gold and lab-grown diamond pieces, raised ₹975 crore (about $103m) in a round led by Multiples Alternate Asset Management, according to Inc42 and Indian Retailer, which reported the deal on 3 and 4 November 2026. DealStreetAsia described it as a round of more than $100m.
Existing investors Epiq Capital and Edelweiss Discovery Fund took part, and Multiples gets a seat on GIVA's board. The transaction mixes primary and secondary capital, and the split was not disclosed. Early investors India Quotient and Sixth Sense Ventures are partially selling down while keeping their remaining stakes.
The deal also includes the company's seventh ESOP buyback, worth about ₹20 crore to ₹25 crore and benefiting roughly 50 to 60 employees. Avendus Capital advised GIVA, DealStreetAsia reported.
“Since 2019, we have been building a brand that makes fine jewellery more accessible and relevant”Ishendra Agarwal, founder and CEO, GIVA
Valuation and financials
GIVA did not disclose a valuation. Inc42 and Indian Retailer reported that chief executive Ishendra Agarwal said it is higher than the ₹4,500 crore to ₹4,600 crore (about $422m to $474m) of its previous publicly announced round.
Revenue was ₹865 crore in the financial year to March 2026, up from ₹505 crore a year earlier, according to Inc42 and Indian Retailer. The company's negative EBITDA margin narrowed from double digits to single digits, it said, and it expects to be profitable after tax in FY28. Stores that have been open for more than a year are profitable. These figures come from the company.
What GIVA sells
GIVA was founded in 2019 as a digital-first silver jewellery business, DealStreetAsia reported, by Ishendra Agarwal and Nikita Prasad. Silver accounts for about 60% of revenue and gold and lab-grown diamond jewellery for about 40%, Inc42 reported. Online direct-to-consumer sales make up about 55% of revenue and offline retail about 45%, and the company expects offline to reach 75% to 80% within three years.
The average selling price for silver is about ₹3,500, lab-grown diamond pieces cost ₹15,000 to ₹18,000, and the blended average order is about ₹5,000, according to Inc42.
What the money is for
GIVA runs about 425 stores, roughly 70% of them in metro areas, and plans to add 160 in FY27 with more focus on smaller cities. Inc42 said it will deepen its presence in Lucknow, Dehradun, Kanpur and Surat and enter Agra. DealStreetAsia reported that the company is targeting more than 1,000 outlets over three to five years.
The funds will also go into manufacturing in Jaipur and Mumbai, where bulk production is outsourced but plating and finishing are done in-house, and into widening the range, especially pieces priced between ₹10,000 and ₹40,000.
Agarwal was quoted by DealStreetAsia as saying: "Since 2019, we have been building a brand that makes fine jewellery more accessible and relevant". Inc42 said he aims to make GIVA ready for an IPO in two to three years, with an actual listing at least three years away.
The funding so far
GIVA raised ₹530 crore, nearly $62m, in a Series C led by Creaegis in June 2025, and a $28m multi-tranche debt round this year, according to DealStreetAsia. Inc42 said the company had raised about $164m before this round, from investors including PremjiInvest, Northern Arc and Alteria Capital.
Company website: giva.co