After successfully concluding its Series A funding round at the start of 2022, Bengaluru-based online Silver jewellery focused startup GIVA has now announced the completion of its Series B round of funding led by Aditya Birla Ventures and A91 Partners along with the participation of Sixth Sense Ventures. Coming at a time when inflationary pressures and geopolitical tensions have led to a drying up of venture capital, GIVA’s ability to raise capital is indicative of its stellar performance and rapid growth.
Having achieved a revenue of INR 100 crore in FY2021-22, the company plans to deploy the raised capital in driving channel expansion and further diversifying its range of beautifully crafted jewellery pieces to enter new categories. As the Indian economy bounces back to above pre-COVID levels of economic activity, GIVA aims to capitalize on the improved levels of consumer spending by improving its distribution network and making its products accessible to a wider audience.
Talking about the recently concluded Series B funding round, Ishendra Agarwal, Founder-GIVA quipped, “It gives us immense pleasure to announce the completion of our Series B funding round and are elated by the support received from top VC funds like Aditya Birla Ventures, A91 Partners, and Sixth Sense Ventures. In addition to the fund infusion, we are sure to benefit from their expertise in grooming new-age startups and intend to leverage their expertise to drive our retail channel expansion to further augment our customer base. As a brand, GIVA has grown by leaps and bounds in the challenging post-COVID period, thanks to peerless unit economics and a passionate team that is spearheading various initiatives across online and offline retail channels. We believe the time is ripe to expand our operations and product lineup, in turn making GIVA a household name when it comes to silver jewellery.”