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Exclusive: GIVA raising $12 Mn in extended Series C round

EntrackrEntrackr · 1d ago
Exclusive: GIVA raising $12 Mn in extended Series C round
Medial

Omnichannel jewelry startup Giva is set to raise Rs 110 crore (around $12 million) in its Series C extension round led by HPV CC1 ltd, with the participation from Premji Invest, Kenro Capital, and Titan Capital. The fresh investment came nine months after GIVA raised Rs 530 crore ($61.5 million) in its Series C round led by Creaegis, with participation from Premji Invest, Epiq Capital, and Edelweiss Discovery Fund. The board at Giva passed a resolution to approve the issuance of 94,01,710 Series C1 CCPS at an issue price of Rs 117 each to raise the aforementioned sum, its regulatory filing accessed from RoC shows. HPV CC1 Ltd will lead the tranche with Rs 74.25 crore ($8.25 million), followed by Kenro Capital, which will invest primary capital of Rs 13.75 crore. Premji Invest via PI Opportunities Fund II and Titan Capital via Winners Fund will be injecting Rs 11 crore each. The company will use the proceeds for operational expenses, including hiring, marketing, and other general corporate purposes, as per filings. According to Entrackr’s estimates, the firm’s valuation will rise to around Rs 4,900 crore ($545 million), which represents a 22% increase from its previous valuation of about Rs 4,000 crore when it raised Rs 530 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. The Bengaluru-based firm has raised over $146 million to date, including its Rs 255 crore Series B round, which was a mix of primary and secondary transactions led by Premji Invest and Epiq Capital. For the fiscal year ended March 2025, the jewelry brand’s operating revenue jumped 89% to Rs 518 crore from Rs 274 crore in FY24. However, its losses also grew 22% to Rs 72 crore during the same period.

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

EntrackrEntrackr · 1y 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 · 8m 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.

Exclusive: Zypp Electric raises $6.5 Mn in ongoing Series C

EntrackrEntrackr · 1y ago
Exclusive: Zypp Electric raises $6.5 Mn in ongoing Series C
Medial

Exclusive: Zypp Electric raises $6.5 Mn in ongoing Series C B2B delivery and shared mobility startup Zypp Electric is raising Rs 55.4 crore ($6.5 million) from 16 investors, which seems to be part of the ongoing Series C funding round for the Gurugram-based company. The board at Zypp Electric has passed a special resolution to issue 564 Series C2 CCPS at an issue price of Rs 9,83,005 each to raise Rs 55.4 crore, its regulatory filing accessed from the Registrar of Companies shows. Individuals including Ajay Kumar Aggarwal, Samir Goenka, Narinder Bajaj, Kapil Kriplani, Vega Industries, Gagan Khanna, Supersonic Carrier, Nirmal K Bathwal, and 10 other investors will cumulatively participate during the investment. According to Entrackr’s estimates, the company will be valued at around $335-350 million. This seems to be part of an ongoing round, and the valuation may vary with further injection. According to the company, it may raise up to $50 million in the Series C fundraise. In May last year, Zypp kicked off the new round with a $15 million tranche led by ENEOS. The company was backed by IAN Fund, 9 Unicorns (now 100 Unicorns), Anthill Ventures, Eiman Abdullah Mahfood Al Qatar, and others. Founded by Akash Gupta and Rashi Agrawal in 2017, Zypp Electric is an EV-as-a-service platform offering electric vehicle rentals along with delivery services through its e-scooter fleet for gig workers. The company claims to have around 22,000 active vehicles in its fleet, with 15,000 in Delhi NCR, 4,000 in Bengaluru, and 1,200 in Mumbai. Zypp Electric witnessed significant 2.6X growth, with its operating revenue crossing Rs 290 crore during the fiscal year ended March 2024. However, in pursuit of scale, the losses for the firm rose 2.2X to Rs 91 crore in the same period.

Euler Motors raises $24 Mn led by Piramal Alternatives

EntrackrEntrackr · 1y ago
Euler Motors raises $24 Mn led by Piramal Alternatives
Medial

Commercial electric vehicle manufacturer ​​Euler Motors has raised Rs 200 crore ($24 million) more in Series C round led by new investor Piramal Alternatives India Access Fund. Existing investors British International Investment and Blume Ventures also participated in the funding tranche. Euler Motors will utilize the fresh proceeds for pan-India presence and raising servicing infrastructure in 40 cities by March 2025, Euler Motors said in a press release. With this, the Delhi-based company also claimed to raise Rs 570 crore ($68.6 million) in its series C round. The firm had raised Rs 120 crore (approximately $14.5 million) in an extended Series C round co-led by British International Investment and Blume Ventures in November last year. It has raised Rs 770 crore ($92 million) to date. As per startup data intelligence platform TheKredible, Euler was valued at around $160 million during an extended Series C round in November 2023. According to Euler Motors, its commercial electric vehicles collectively transported goods over 45 million kilometers. The company’s flagship model HiLoad EV claims to be the most powerful electric cargo three-wheeler, with a range of 170 kilometers. In FY24, the company claims to have sold 3,700 vehicles and expanded its presence from 5 to 22 cities. On the lines of many startups, Euler also laid off 10% of its employees to cut costs and navigate through a tight funding environment. For the fiscal year ending in March 2023, Euler registered Rs 61.53 crore in revenue from operations against Rs 17.57 crore in FY22. As per TheKredible, its losses spiked nearly 5X to Rs 174.73 crore in FY23 from Rs 36.33 crore in the previous year. The heavy losses could be attributed to investment made by the firm in creating infrastructure and facilities. In the electric three-wheeler space, it competes with Altigreen and legacy players like Mahindra Electric, Piaggio, Kinetic Green, and Tata, among others.

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