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Exclusive: Giva raises $12 Mn from Premji Invest in extended Series B

EntrackrEntrackr · 9m ago
Exclusive: Giva raises $12 Mn from Premji Invest in extended Series B
Medial

Omnichannel jewelry startup Giva has raised Rs 100 crore ($12 million approximately) in an extended Series B round from Premji Invest. With this, the company has marked its first fundraise in 2024. Giva’s board has passed a resolution to offer and issue 68,028 Series B1 compulsorily convertible preference shares (CCPS) at a price of Rs 14,700 per share to PI Opportunities Fund II (Premji Invest). This marks the third investment by Premji Invest in the Bengaluru-based Giva. The family office of Wipro founder Azim Premji had previously led a Rs 270 crore Series B round in Giva in July last year. According to TheKredible’s estimates, Giva has been valued at approximately Rs 2,000 crore. This appears to be part of an ongoing funding round, and with the infusion of additional capital, the company’s valuation is expected to adjust accordingly. Following the fresh capital, the company has raised over $60 million to date from the likes of Aditya Birla Venture, A91 Partners and others. Giva, which initially launched as an affordable jewelry brand, has since expanded its offerings to include gold jewelry and lab-grown diamonds. In addition to its website and app, the Ishendra Agarwal-led company now operates around 110 physical stores across the country. Giva’s revenue from operations saw a significant growth of 96.4%, reaching Rs 165 crore in FY23. However, the company’s expenditure doubled, rising to Rs 212 crore in FY23. This sharp increase in costs led to a 2.36X spike in its losses which widened to Rs 45 crore in FY23. The company has not disclosed its FY24 numbers officially. Of late, the omnichannel jewelry space has garnered significant investor attention. Lab-grown jewelry brand Aukera recently raised Rs 26.7 crore (approximately $3.2 million) in its Series A round, while Vermeil jewelry brand Trisu secured an undisclosed amount in pre-seed funding. Giva competes with several notable players: Melorra, Bluestone, CaratLane, and a range of other funded and family-led brands.

GIVA to raise $53 Mn led by Creaegis at $465 Mn valuation

EntrackrEntrackr · 1m ago
GIVA to raise $53 Mn led by Creaegis at $465 Mn valuation
Medial

GIVA to raise $53 Mn led by Creaegis at $465 Mn valuation Omnichannel jewelry startup Giva is set to raise Rs 450 crore or $53 million in its Series C round led by Creaegis with the participation from Premji Invest, Epiq Capital, and others. The board at Giva passed a resolution to issue 1,73,430 Series C CCPS at an issue price of Rs 25,947 each to raise the aforementioned amount, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Creaegis through the CIF II Scheme will lead the round with Rs 235 crore or $27.6 million, followed by Premji Invest, which will invest Rs 125 crore ($14.7 million). Epiq Capital and Edelweiss Discovery Fund will be injecting Rs 45 crore and Rs 35 crore, respectively, and the remaining Rs 10 crore will be invested by Usha Dalmia Trust. The company will use the proceeds to cover operational costs, including hiring, marketing, general corporate purposes, and other expenses as outlined in the business plan, as per the filing. Apart from equity capital, Giva also raised Rs 30 crore in debt from Alteria Capital, a separate filing shows. The company has also increased its ESOP pool by 15,853 equity shares worth Rs 41 crore, taking the total pool value to Rs 203 crore ($24 million). According to Entrackr’s estimates, the company’s valuation will stand at around Rs 3,950 crore ($465 million), marking a 2X increase from the previous funding round of Rs 255 crore. Founded in 2019, Giva originally launched as an affordable jewelry brand, has expanded into gold jewelry and lab-grown diamonds. Led by Ishendra Agarwal, the company now operates around 150 physical stores across India, alongside its website and app, and has adopted a franchise-led model to further expand its reach. According to startup data intelligence platform TheKredible, the Bengaluru-based company has raised over $85 million to date. Prior to this round, founder Ishendra Aggarwal held a 25.10% stake, while Premji Invest owned 17.13%, India Quotient 13.38%, and A91 Partners 9.58%. For the fiscal year ended March 2024, the jewelry brand’s operating revenue grew 66% to Rs 274 crore from Rs 165 crore in FY23. However, its losses grew over 30% to Rs 59 crore during the same period. Giva competes with several notable players, including Bluestone, which filed its DRHP for Rs 1,000 crore IPO, CaratLane, Melorra, and a range of other funded and family-led physical and omnichannel brands.

Dezerv reports Rs 26 Cr revenue and Rs 75 Cr loss in FY24

EntrackrEntrackr · 7m ago
Dezerv reports Rs 26 Cr revenue and Rs 75 Cr loss in FY24
Medial

Dezerv, a company backed by Premji Invest, reported a revenue of Rs 26.25 crore and a loss of Rs 74.53 crore for the fiscal year ending March 2024. The revenue grew by 160% compared to the previous year, while losses increased by 95.1%. The total income for the year was Rs 26.33 crore, with significant expenses in employee costs (Rs 63.34 crore), marketing (Rs 18.48 crore), legal (Rs 4.13 crore), and miscellaneous expenses (Rs 14.89 crore), totaling Rs 100.84 crore. The company’s ROCE was -64.9% and EBITDA margin was -267.45%. Dezerv had cash and bank balances of Rs 100 crore and current assets worth Rs 122 crore. In FY23, the company had a revenue of Rs 10.22 crore and a loss of Rs 38.20 crore. The company raised $60 million in funding, with investors including Premji Invest, Elevation Capital, Matrix, and Accel. Dezerv targets high net-worth individuals (HNIs) with an investment threshold ranging from Rs 15 lakhs to several crore rupees, focusing on portfolio management services for working professionals.

Decoding SpotDraft’s Series B funding round, latest valuation and captable

EntrackrEntrackr · 3m ago
Decoding SpotDraft’s Series B funding round, latest valuation and captable
Medial

SpotDraft, a contract lifecycle management (CLM) platform, has recently raised $54 million in its Series B round led by Vertex Growth Singapore and Trident Partners with the participation of Prosus, Premji Invest, Arkam Ventures, Volrado Venture Partners, and others. SpotDraft secured $26 million in its Series A funding round in March 2023. Entrackr has gone through its regulatory filings to decode the round breakup, captable, and current valuation. The board at SpotDraft allotted 1,39,025 Series B compulsory convertible preference shares at an issue price of Rs 33,938 each to raise Rs 472 crore ($54-55 million). The Series B round commenced in December 2024 with an initial investment of Rs 50.5 crore from Xeed Ventures through 021 Capital, Premji Invest, and Arkam Ventures through Unitary Fund. The remaining funds were secured in March 2025. Vertex Growth led the funding round with an investment of Rs 126 crore ($14.8 million), followed by Trident Partners and Prosus, which contributed Rs 109.6 crore ($12.9 million) and Rs 73.2 crore ($8.6 million), respectively. Other notable investors included Premji Invest (Rs 37.6 crore), Arkam Ventures (Rs 34 crore), and Xeed Ventures (Rs 33.6 crore), Volrado Venture Partners (Rs 25 crore). As per Fintrackr’s estimates, the company’s post-money valuation has now reached $190-$200 million. According to startup data intelligence platform TheKredible, the Bengaluru-based company has raised nearly $98.5 million to date. Following the allotment of the Series B round, Xeed Ventures emerged as the largest shareholder with a 15.8% stake in the company. It is followed by Arkam Ventures (10.27%), Premji Invest (10.24%). Co-founder Shashank Bijapur holds a 9.08% stake in the company. Founded in 2017, SpotDraft is an AI-powered contract lifecycle management (CLM) platform designed for in-house legal teams. It streamlines every stage of the contracting process, offering features such as AI-assisted redlining, e-signatures, an intelligent contract repository, third-party document handling, clickwrap agreements, and more. Spotdraft competes with other legaltech startups like Legistify, Leegality, Sirion, Vakilsearch, and others. SpotDraft’s revenue from operations grew threefold in FY24 to Rs 60 crore from Rs 20 crore in FY23, while its losses remained flat at Rs 68 crore during the same period.

Fintech firm KreditBee recharges Series D round with $9.4 Mn

EntrackrEntrackr · 1y ago
Fintech firm KreditBee recharges Series D round with $9.4 Mn
Medial

Digital lending platform KreditBee has raised $9.4 million or Rs 78.33 crore from existing investors: Premji Invest, Motilal Oswal Private Equity, and Mirae Asset among others in an extended Series D round. The board at KreditBee has passed a special resolution to issue 92,322 Series D compulsory convertible preference shares (CCPS) at an issue price of Rs 8,485.36 each to raise Rs 78.33 crore, its regulatory filing sourced from the Registrar of Companies shows. Inc42 reported the development first. Wiseanya Ltd led the round with an infusion of Rs 40.91 crore while Motilal Oswal PE (via India Business Excellence) and Mirae Asset pumped in Rs 9.52 crore and Rs 1.15 crore, respectively. Premji Invest, MUFG Bank Limited, and NewQuest Capital also joined the round with the remaining sum. Founded by Madhusudan E, KreditBee is a platform facilitating loan transactions between borrowers and NBFCs or banks. The company provides personal loans up to Rs 4 lakh to young professionals for a tenure of 2 to 15 months and at an interest rate of up to 2.49%. The new tranche has come for the company after a gap of 15 months. It raised $180 million across two tranches in the last quarter of FY22. As per the startup data intelligence platform TheKredible, Premji Invest is the largest external stakeholder with 23.44% followed by Newquest Asia and Alpine Capital. Head to TheKredible to see the complete shareholding. According to its website, it has over 7 million customers and disbursed credit worth Rs 30,000 crore. KreditBee turned into the black in FY23 to post Rs 64.33 crore profit. At the same time, its revenue from operations grew to Rs 788.66 crore during the last fiscal year. MoneyTap, EarlySalary, LazyPay, and Sachin Bansal’s Navi are notable competitors of KreditBee.

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