GIVA | $100M+ (~₹975 Cr)

Bengaluru jewellery brand GIVA has raised over $100M (about ₹975 crore) in a round led by Multiples Alternate Asset Management, which also takes a board seat. Existing investors Epiq Capital and Edelweiss Discovery Fund participated. The company plans to open 160 stores in FY27 and invest in its own manufacturing.

The round

GIVA raised ₹975 crore, about $103 million, according to Inc42 and Indian Retailer. Multiples Alternate Asset Management led the round and receives a board seat. Epiq Capital and Edelweiss Discovery Fund, both existing investors, took part.

The deal mixes primary and secondary capital. Early investors India Quotient and Sixth Sense Ventures partly exit but keep stakes, and the round includes an ESOP buyback of roughly ₹20 crore to ₹25 crore benefiting about 50 to 60 employees. GIVA has not disclosed the valuation; CEO Ishendra Agarwal said it is higher than the roughly ₹4,500 crore to ₹4,600 crore of the last publicly announced round.

What GIVA does

GIVA was founded in 2019 as an online-first 92.5 silver jewellery brand and sells everyday-wear and gifting pieces. It has since expanded into gold and lab-grown diamond jewellery. Ishendra Agarwal is cofounder and CEO. The company sells through its own stores, its website and third-party e-commerce and quick-commerce platforms, and says it operates more than 400 stores across India and Sri Lanka.

Inc42 reports FY26 revenue of ₹865 crore, up from ₹505 crore in FY25, with a negative EBITDA margin that narrowed to single digits. Silver accounts for about 60 percent of revenue. The company says it expects profit after tax in FY28 and aims to be IPO-ready in two to three years.

The investors

Multiples Alternate Asset Management is a private equity firm that invests in growth-stage Indian companies. Creaegis led GIVA's ₹530 crore Series C in 2025, and Epiq Capital and Edelweiss Discovery Fund are existing backers.

Why it matters

GIVA says it will add 160 stores in FY27, focused on Tier II and Tier III cities. It also plans to invest in manufacturing in Jaipur and Mumbai: bulk production stays outsourced, while plating, finishing and made-to-order work move in-house. Inventory will expand across silver, gold and lab-grown diamonds, mainly priced between ₹10,000 and ₹40,000.

Offline stores are about 45 percent of revenue, and the company is targeting 75 to 80 percent within three years, per Inc42. The shift reflects how D2C brands that began online are moving into physical retail. See more from Bengaluru startups.