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D2C Jewellery Brand GIVA Nets INR 255 Cr To Fuel Its Offline Play

Inc42 · 10m ago

D2C jewelry brand GIVA has raised INR 255 Cr ($30.3 Mn) in an extended Series B funding round. The funds will be used to strengthen GIVA's lab-grown diamond segment, expand its gold offerings, and increase its offline presence across India. The round saw participation from investors such as Premji Invest, Epiq Capital, and Edelweiss Discover Fund. Additionally, A91 Partners and India Quotient made partial exits as part of the funding round.

Related News

GIVA Jewellery raises Rs 255 cr in extended Series B, marks partial exit for A91 Partners, India Quotient

Business Today

Business Today · 10m ago

GIVA Jewellery raises Rs 255 cr in extended Series B, marks partial exit for A91 Partners, India Quotient

Silver jewellery brand GIVA Jewellery has secured INR 255 crore (USD 34 million) in an extended Series B funding round. Led by Premji Invest, the investment round included participation from EPIQ Capital, Edelweiss Discover Fund, and GIVA's top management. The funding will primarily be used for expanding GIVA's offline retail presence across India and strengthening its offerings in lab-grown diamonds. The round also facilitated the partial exit of earlier investors A91 Partners and India Quotient. GIVA currently has 150 retail stores and aims to establish itself in the fine jewellery sector.

Jewellery brand Giva's revenue rises 66% in FY24, losses widen 30%

Economic Times

Economic Times · 9m ago

Giva, a jewellery brand backed by Premji Invest, saw a 65.8% YoY growth in operating revenue, reaching Rs 273.6 crore for the fiscal year ending in March 2024. However, its net loss widened by 29.6% to Rs 58.6 crore. The company expanded from silver jewellery to include lab-grown diamonds and gold jewellery. The cost of metal procurement, its largest expense, increased by over 53%. Giva offers products through various channels, including its app, website, offline stores, and third-party platforms. It recently raised Rs 255 crore in funding and plans to open 100 new stores annually.

Palmonas raises Rs 55 Cr in Series A round led by Vertex Ventures

Entrackr

Entrackr · 3d ago

Palmonas raises Rs 55 Cr in Series A round led by Vertex Ventures

Demi-fine jewellery startup Palmonas has raised Rs 55 crore (around $6.2 Mn) in a Series A funding round led by Vertex Ventures Southeast Asia & India (SEAI). The proceeds will be used to expand Palmonas’ 9kt gold demi-fine collection, open 100 new stores in the next 12 months, and foray into newer categories. Founded in 2022 by Pallavi Mohadikar and Amol Patwari, with Shraddha Kapoor later joining as cofounder, Palmonas specialises in demi-fine jewellery crafted from surgical stainless steel and sterling silver with 18K gold vermeil finish, spanning necklaces, rings, bracelets, earrings, and mangalsutras. Palmonas follows a D2C-first business model, generating sales primarily through its online store, while also leveraging marketplaces like Amazon and Flipkart, along with offline retail outlets. Since launch, the startup has processed over 6.5 lakh orders and built a strong base of repeat customers. The brand was valued at Rs 126 crore earlier this year, following an investment of Rs 1.26 crore by Namita Thapar and Ritesh Agarwal on Shark Tank India Season 4. Prior to this, it had raised Rs 6 crore in an angel round in 2023. Palmonas competes with D2C jewellery players like GIVA, BlueStone, CaratLane, Melorra, and Firefly Diamonds, all of which are capitalising on India’s shift towards digital-first jewellery shopping. The Indian jewellery market, still dominated by offline players with nearly 85% share, is witnessing rapid digital adoption. The country’s online jewellery market is projected to reach $3.7 billion by 2025, creating opportunities for new-age brands like Palmonas.

Fine jewellery brand GIVA raises Rs 530 Cr in Series C funding led by Creaegis

YourStory

YourStory · 2m ago

Fine jewellery brand GIVA secured Rs 530 crore in a Series C funding round led by Creaegis, with continued support from existing investors. The funds will help expand GIVA's retail and digital presence, enhance its tech-enabled supply chain, and broaden its lab-grown diamond offerings. Founded in 2019, GIVA plans to open 145-150 new stores in Tier II cities this year. The brand aims to grow its omnichannel footprint and enhance its product offerings.

Men’s fashion brand Snitch bags INR 110 Cr to sharpen offline play

Inc42 · 1y ago

Men's fashion brand Snitch has raised INR 110 Cr ($13.19 Mn) in a Series A funding round co-led by SWC Global and IvyCap Ventures. The Bengaluru-based D2C brand plans to use the investment to boost its talent and technology, as well as develop an offline retail strategy. Snitch achieved a turnover of over INR 100 Cr in FY23 and aims to achieve over 100% growth in FY24. The brand intends to open more than 100 offline stores across India within the next 4-5 years.

GIVA raises ₹270 cr led by Wipro Founder Chairman's Premji Invest

Inshorts · 2y ago

GIVA raises ₹270 cr led by Wipro Founder Chairman's Premji Invest

Jewellery brand GIVA has raised ₹270 crore in a funding round led by Wipro Founder Chairman Azim Premji's Premji Invest. The startup raised ₹200 crore in primary capital in the Series B funding round, which saw participation from existing investors Aditya Birla Ventures, Alteria Capital and A91 Partners. GIVA raised another ₹70 crore through a secondary sales transaction and gave partial exit to Kunal Shah and FirstCheque.

D2C Fitness Startup Boldfit Nets INR 110 Cr To Bolster Its Product Portfolio

Inc42 · 9m ago

D2C Fitness Startup Boldfit Nets INR 110 Cr To Bolster Its Product Portfolio

D2C fitness startup Boldfit has raised INR 110 Cr (around $13 Mn) in funding from Bessemer Venture Partners. The investment will be used to drive product innovation and expand the brand's reach. Boldfit is also planning to open offline stores within the next 12 to 18 months. This funding round comes after cricketer KL Rahul previously invested in the company. Boldfit aims to introduce new products and expand its presence in the Middle East market.

Safari Nets $27 Mn From Lighthouse Fund To Boost Luggage Bags Playbook

Inc42 · 1y ago

Safari Nets $27 Mn From Lighthouse Fund To Boost Luggage Bags Playbook

Indian luggage brand Safari Industries has raised INR 229 crore ($27m) in funding from Lighthouse's fourth alternative investment fund. Lighthouse had also recently invested INR 284 crore in jewellery startup Kushal's. Safari plans to use the investment to penetrate deeper into the Indian market and leverage Lighthouse's experience in building high-quality brands. The company offers a variety of luggage bags and backpacks and claims to have over 800 SKUs and more than 9,300 customer touchpoints online and offline. The Indian luggage industry is projected to grow at a compound annual growth rate of 5.21% by 2028.

D2C brand mCaffeine’s loss widens 61% to INR 92 Cr in FY23, sales at INR 205 Cr

Inc42 · 1y ago

mCaffeine, a direct-to-consumer (D2C) beauty and personal care brand, reported a 61.5% increase in its standalone net loss for FY23, reaching INR 91.6 crore. The higher losses were attributed to increased employee costs and advertising expenses. However, the company's sales revenue grew by 51.8% to INR 205.2 crore during the same period. mCaffeine, known for its caffeine-infused skincare products, raised $31 million in Series C funding earlier in the year to fuel its R&D and expand its distribution network.

Foxtale Secures INR 119 Cr To Bolster Its D2C Skincare Play

Inc42 · 1y ago

Foxtale Secures INR 119 Cr To Bolster Its D2C Skincare Play

D2C beauty and personal care brand, Foxtale, has raised INR 119 crore (approximately $14.4 million) in a funding round led by Panthera Growth Partners. The startup, founded in 2021, sells skincare products through its website, online marketplaces, and offline stores. It has a presence in 1,050 retail stores and claims to have served 550,000 consumers. Foxtale aims to achieve an annual run rate of INR 1,000 crore with 20% positive EBITDA by 2025. The funding comes at a time when the D2C space in India has faced challenges due to a capital drought.

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