GIVA Raises ₹975 Crore Funding: Multiples Leads Investment as Jewellery Brand Plans 160 New Stores

Bengaluru-based jewellery brand GIVA has raised ₹975 crore in a funding round led by Multiples Alternate Asset Management, with participation from existing investors Epiq Capital and Edelweiss Discovery Fund.

The latest investment marks an important milestone for the jewellery startup as it looks to accelerate its offline expansion, strengthen manufacturing capabilities and increase inventory across its product categories.

Founded in 2019, GIVA has evolved from an online-first silver jewellery brand into an omnichannel jewellery business with offerings across silver, gold and lab-grown diamonds.

The company is now preparing for its next growth phase, with plans to add 160 stores in FY27 and increase the contribution of offline retail to 75–80% of total revenue within the next three years.

GIVA reported revenue of ₹865 crore in FY26, compared with ₹505 crore in FY25. Alongside revenue growth, the company has also narrowed its negative EBITDA margin to single digits, indicating improving operating performance.

Here’s a closer look at GIVA’s latest funding, investors, expansion plans and financial performance.

GIVA Funding Round: Key Details

Particulars	Details
Company	GIVA
Latest funding	₹975 crore
Lead investor	Multiples Alternate Asset Management
Other investors	Epiq Capital and Edelweiss Discovery Fund
Founder	Ishendra Agarwal
Founded	2019
FY26 revenue	₹865 crore
FY25 revenue	₹505 crore
FY27 store expansion	160 new stores
Offline revenue target	75–80% within three years
Profitability progress	Negative EBITDA margin narrowed to single digits

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How Does GIVA Plan to Use the ₹975 Crore Funding?

GIVA intends to use the investment to strengthen its retail network, expand manufacturing infrastructure and build inventory to support its growing product portfolio.

1. Adding 160 New Stores in FY27

Offline retail expansion is a major part of GIVA’s next growth phase.

The company plans to add 160 stores during FY27, strengthening its presence across Indian cities and improving access to customers who prefer purchasing jewellery through physical stores.

GIVA’s strategy reflects a broader shift in the D2C industry, where digital-first brands are increasingly investing in offline distribution to improve customer experience, build trust and drive repeat purchases.

2. Targeting 75–80% Revenue from Offline Stores

One of the most significant aspects of GIVA’s strategy is its ambition to generate 75–80% of revenue through offline retail within the next three years.

This represents a major transformation from its original online-first business model.

Physical stores can help jewellery brands offer customers an opportunity to experience designs, check product quality and make purchase decisions with greater confidence.

For GIVA, a larger retail network could also improve brand visibility and customer acquisition across different markets.

However, the shift will require careful management of store rentals, employee costs, inventory and store-level profitability.

3. Expanding Manufacturing and Inventory

GIVA also plans to strengthen its manufacturing capabilities and increase inventory availability.

The investment in manufacturing is expected to improve operational control, support faster product development and help the company cater to rising demand.

Inventory expansion will be particularly important as GIVA grows across silver, gold and lab-grown diamond jewellery.

A wider product portfolio and stronger supply chain could help the company serve customers across different budgets and purchase occasions.

GIVA Financial Performance: Revenue Jumps 71% to ₹865 Crore in FY26

GIVA’s financial performance highlights the growth it has achieved over the last year.

The company reported ₹865 crore in revenue during FY26, compared with ₹505 crore in FY25.

This represents approximately 71.3% year-on-year revenue growth.

Financial Metric	FY25	FY26
Revenue	₹505 crore	₹865 crore
Revenue growth	—	71.3%
EBITDA margin	Negative	Negative, narrowed to single digits

The improvement in EBITDA margin is another important development.

While GIVA has not yet established positive EBITDA profitability based on the reported update, narrowing its negative EBITDA margin to single digits indicates progress towards improving operating economics.

As the company adds more physical stores, its ability to maintain this improvement while managing expansion costs will be important.

What Does GIVA’s Funding Mean for India’s Jewellery Market?

GIVA’s latest funding highlights investor interest in India’s organised jewellery sector.

The company is attempting to capture demand for affordable, contemporary jewellery across silver, gold and lab-grown diamonds.

Its next phase will be less about simply acquiring customers online and more about building a large retail distribution network.

The key challenge will be balancing rapid store expansion with sustainable profitability.

With ₹865 crore in FY26 revenue, a 160-store expansion plan and an offline revenue target of 75–80%, GIVA is positioning itself for a significant transformation in the Indian jewellery market.

The next three years will determine whether it can successfully scale its retail footprint while improving margins and maintaining strong revenue growth.