Giva to Raise ₹450 Crore in Series C Round Led by Creaegis

Omnichannel jewellery startup Giva is gearing up to raise ₹450 crore (approximately $53 million) in its latest Series C funding round. The round is led by Creaegis Capital, with participation from prominent investors including Premji Invest, Epiq Capital, Edelweiss Discovery Fund, and Usha Dalmia Trust.

Giva Funding Details

According to regulatory filings accessed from the Registrar of Companies (RoC), Giva’s board approved the issuance of 1,73,430 Series C Compulsorily Convertible Preference Shares (CCPS) at an issue price of ₹25,947 per share to raise the targeted amount.

• Creaegis Capital will lead the round with an investment of ₹235 crore ($27.6 million) through its CIF II Scheme.
• Premji Invest is set to contribute ₹125 crore ($14.7 million).
• Epiq Capital and Edelweiss Discovery Fund will invest ₹45 crore and ₹35 crore, respectively.
• The remaining ₹10 crore will be invested by Usha Dalmia Trust.

Use of Funds and Additional Financial Moves

The funds raised will primarily be used to support Giva’s operational needs, such as:

• Expanding hiring
• Marketing campaigns
• General corporate expenses
• Other business plan initiatives

In addition to equity funding, Giva secured ₹30 crore in debt financing from Alteria Capital, as revealed in a separate filing. The company has also expanded its Employee Stock Option Plan (ESOP) by adding 15,853 equity shares worth ₹41 crore, increasing the total ESOP pool value to ₹203 crore ($24 million).

As per Entrackr, the valuation of Giva stood at ~₹3,950 crore ($465 million), reflecting a doubling in value from its previous funding round of ₹255 crore.

Also Read: CRED Secures $72 Million in Fresh Funding Round: Valuation Impacted Significantly

About Giva

Founded in 2019, Giva initially started as an affordable jewellery brand and has since broadened its portfolio to include gold jewellery and lab-grown diamonds. Under the leadership of founder Ishendra Agarwal, the company operates about 150 physical stores nationwide, alongside a digital presence through its website and mobile app. It has also adopted a franchise-led expansion model to scale its operations further.

As per Entrackr, Giva has raised over $85 million to date. Before this funding round:

• Founder Ishendra Agarwal held a 25.10% stake.
• Premji Invest owned 17.13%.
• India Quotient held 13.38%.
• A91 Partners owned 9.58%.

For FY24, Giva’s operating revenue surged by 66% to ₹274 crore, up from ₹165 crore in FY23. However, the company’s losses also increased by over 30% to ₹59 crore during the same period.

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