GIVA, a Bengaluru-based silver jewellery startup, has raised $10 million in a Series A funding round. The funding round was led by D2C focused VC funds- Sixth Sense Ventures, A91 Partners and other marquee investors like India Quotient, Grand Anicut Angel Fund, and Founder’s Bank Capital.  

As per the jewellery startup, the funds will help it to proliferate both online and offline channels with its range of modern silver jewellery that are crafted with quality for everyday use. The startup will also use a portion of the raised capital for enhancing its international presence as well. 

GIVA | Affordable Premium Silver Jewellery

Founded by Ishendra Agarwal, Nikita Prasad, Sachin Shetty, GIVA is an online first silver jewellery store that is working with a vision to provide authentic, elegant, and affordable jewellery. Having started operations in 2019, the Bengaluru-based silver jewellery startup has grown rapidly to become one of India’s leading silver jewellery brands. 

Speaking about the development, Ishendra Agarwal, Founder of GIVA, said, 

“We will be employing these funds to innovate contemporary offerings in the jewellery space, expand our presence globally and augment our online and offline sales channels. Our anchor investors, with their expertise in accelerating the growth of the D2C brands, will serve as a guiding force to catapult GIVA onto the next growth phase and achieve a target revenue of Rs 200 crore for FY 2022.” 

The Bengaluru-based silver jewellery startup has laid out plans to venture into new product categories to appeal to a wider set of audiences. Additionally, the startup will also expand its digital presence through a dedicated mobile application to enhance customer convenience further and drive offline business through partnerships with leading retailers.

As per Nikhil Vora, Founder and CEO, Sixth Sense Ventures, it is the perfect time to partner with GIVA as the online jewellery space is nascent relative to the mature offline market with a rise in silver jewellery consumption.

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