Bengaluru-based jewelry model GIVA has raised greater than $100 million (about Rs 975 crore) in a funding spherical led by Multiples Alternate Asset Administration and its co-investors.

Present buyers Epiq Capital and Edelweiss Discovery Fund additionally took half.

The spherical contains main capital, secondary transactions wherein current shareholders promote their stakes, and ESOP buyback. Early buyers India Quotient and Sixth Sense Ventures are partly exiting however preserving a few of their holding, and Multiples will get a seat on GIVA’s board

The model stated the cash will go in direction of strengthening its management staff, constructing manufacturing capabilities and opening extra bodily shops, calling the deal the most important investment but in India’s new-age jewelry market.

“Multiples’ backing is a powerful endorsement of what we now have constructed at GIVA since 2019, a high-growth, design-led nice jewelry model that Indian shoppers belief for on a regular basis put on and gifting,” stated Ishendra Agarwal, founder and CEO of GIVA.

“As we enter our subsequent part, we’re targeted on scaling our omnichannel presence, strengthening our manufacturing capabilities and elevating the nice jewelry expertise for contemporary Indian shoppers,” he added.

160 new shops this yr

GIVA runs round 425 shops throughout India and Sri Lanka. It plans so as to add 160 in FY27, with extra give attention to Tier II and III cities, and goals to cross 1,000 shops within the subsequent three to 5 years.

About 70% of its shops are in metros. Agarwal stated the corporate will deepen its presence in Lucknow, Dehradun, Kanpur and Surat and enter markets similar to Agra.

Bodily shops usher in about 45% of income immediately, with the remaining coming from its personal web site and app and from third-party e-commerce and fast commerce platforms. Agarwal expects the offline share to achieve 75-80% inside three years.

On manufacturing, GIVA outsources bulk manufacturing however does plating, ending, customised and made-to-order items in-house. It’s going to spend money on these capabilities in Jaipur and Mumbai.

Based in 2019 by Agarwal, Nikita Prasad and Sachin Shetty, GIVA began on-line as a 925 sterling silver jewelry model and later added gold and lab-grown diamond jewelry.

Silver nonetheless accounts for round 60% of income, with gold and lab-grown diamonds making up the remaining. Its common promoting worth is about Rs 3,500 for silver items and Rs 15,000-18,000 for lab-grown diamond jewelry, and its blended common order worth is about Rs 5,000.

The corporate plans to inventory extra merchandise within the Rs 10,000-40,000 vary. It is usually constructing out its males’s vary, which makes up about 20% of its silver enterprise, and just lately launched a demi-fine jewelry brand known as Ixia.

Agarwal stated GIVA goals to be prepared for an IPO inside two to a few years, although a list is a minimum of three years away.

Notably, GIVA claims to have grown at over 70% CAGR during the last three years and ended FY26 with income of round Rs 865 crore.

Agarwal stated the adverse EBITDA margin shrank from double digits to single digits in FY26, and that shops open for greater than a yr are worthwhile. GIVA expects to publish a internet revenue in FY28. It goals to be IPO-ready in two to a few years, although a list is a minimum of three years away, he stated.

Funding to date

GIVA raised Rs 530 crore in a Series C funding round led by Creaegis in June 2025, with Premji Make investments, Epiq Capital and Edelweiss Discovery Fund collaborating. In February this yr, it raised Rs 110 crore (round $12 million) in a Collection C extension led by HPV CC1 Ltd.

In Might, it raised Rs 270 crore in debt via a multi-tranche spherical of debentures led by BlackSoil Capital, with InCred Credit score Fund, Stride Ventures and Nuvama Crossover Yield Alternatives Fund.

Multiples’ portfolio contains Licious, ACKO, PVR and Arvind Fashions. In 2025, the non-public fairness agency closed a $430 million continuation fund co-led by LGT Capital Companions, HarbourVest Companions, Hamilton Lane and TPG NewQuest.

Based on a research agency Redseer, India’s lab-grown diamond jewelry market at $300–350 million in 2024 and projected annual development of about 15% over the next decade.