The jewelry brand GIVA has attracted $100 million in a funding round led by Multiples Alternate Asset Management and its co-investors.
Founded in 2019 and based in Bengaluru, GIVA focuses on everyday wear and primarily serves Indian consumers for both personal use and gifts. The capital raised will be used to strengthen the management team, expand production, and enhance the brand's offline presence.
The brand offers a diverse range of jewelry made from 92.5 sterling silver, gold, and lab-grown diamonds. It utilizes an omnichannel distribution model through its own retail stores, a D2C website, as well as leading third-party e-commerce and express delivery marketplaces.
Currently, the brand is present in over 400 stores across India and Sri Lanka. According to the company itself, this latest funding round is the largest investment in the modern jewelry market in India.
Ishandra Agarwal, founder and CEO of GIVA, noted that the support from Multiples is a strong confirmation of what was created at GIVA since 2019—a high-growth, design-focused jewelry brand trusted by Indian consumers for daily wear and gifting.
He added that in the next phase, the company is focused on scaling its omnichannel presence, strengthening manufacturing capabilities, and improving the jewelry experience for modern Indian consumers. In Agarwal's view, Multiples' experience in helping new ventures scale makes them a suitable partner for this journey, and the round of over $100 million allows them to act faster, as it is the largest investment in the modern jewelry market in India.
The company also reported that the Indian jewelry market is estimated to grow by approximately 6% annually, reaching a volume of $124 billion by 2032. Furthermore, Multiples has invested in brands such as Licious, ACKO, PVR, and Arvind Fashions, in addition to other sectors. Earlier this year, Multiples announced the closing of a fund totaling $430 million.
