Bengaluru-based jewellery brand GIVA, founded by Ishendra Agarwal, has raised more than $100 million (approximately ₹975 crore) in a funding round led by Multiples Alternate Asset Management. The investment comes as the 6-year-old company accelerates its offline expansion, strengthens manufacturing capabilities and builds its presence across silver, gold and lab-grown diamond jewellery.
Existing investors Epiq Capital and Edelweiss Discovery Fund also participated in the transaction, according to Giva. GIVA currently operates around 425 stores and plans to expand its network to more than 1,000 outlets over the next three to five years.
The latest transaction includes a mix of primary and secondary capital, along with an employee stock option plan (ESOP) buyback. Early investors India Quotient and Sixth Sense Ventures are partially exiting while retaining stakes, The Unicorn Magazine reported. Multiples will also secure a board seat.
The company has not disclosed its latest valuation or the precise split between primary and secondary capital.
GIVA Plans 1,000-Store Retail Network
Founded in 2019, GIVA started as an online-first sterling silver jewellery brand focused on everyday wear and gifting. It has since expanded into gold and lab-grown diamond jewellery, including through its premium offering, Heer by GIVA.
The brand sells through its own stores, website, e-commerce marketplaces and quick-commerce platforms. Its retail network spans more than 80 cities across India and Sri Lanka.
The company plans to add around 160 stores in FY27, with expansion into Tier II and Tier III markets. It is also looking to strengthen manufacturing capabilities, including investments in facilities in Jaipur and Mumbai. The focus is on improving control over production processes, product quality and the speed at which new designs reach customers.
Revenue Reaches ₹865 Cr in FY26
GIVA said it recorded revenue of approximately ₹865 crore in FY26, representing more than 70% compound annual growth over the past three years.
According to The Unicorn Magazine, revenue increased from ₹505 crore in FY25 to ₹865 crore in FY26. The company has also been working to improve operating performance as its retail network matures. Its negative EBITDA margin narrowed to single digits in FY26, although it has not disclosed a full-year net profit figure.
Multiples Backs the Everyday Jewellery Opportunity
The investment reflects growing interest in organised jewellery brands targeting consumers beyond traditional wedding and occasion-led purchases. GIVA is positioning its products around accessible price points, lightweight designs and everyday use.
For the company, the next phase involves balancing rapid store additions with inventory management, manufacturing efficiency and store-level profitability. Its expansion into gold and lab-grown diamonds also gives it an opportunity to increase customer spending across categories.
The planned 1,000-store network will test whether GIVA can sustain its growth while building stronger operating economics across a much larger physical retail footprint.
