Giva raises Rs 40 crore debt funding from Alteria Capital

By

Maverick Martins

Published
Mar 10, 2023

Bengaluru-based jewellery start-up Giva has raised Rs 40 crore ($4.8 million) in debt funding from venture debt fund Alteria Capital.

The start-up will utilise the funds to diversify its product offerings and expand its omnichannel presence across the country.

Giva claims to have an omnichannel presence with more than 50 offline touchpoints currently and expects it to touch 200 by the end of 2023.

Commenting on the funding, Ankit Agarwal, managing partner at Alteria Capital in a statement said, “We believe Giva is well poised to play a pivotal role in bringing fine jewellery to the masses in India and has been able to make great inroads in both offline and online channels across the country.”

Ishendra Agarwal, co-founder of Giva added, “We plan to deploy the raised capital in driving channel expansion and further expanding our range of exquisitely crafted jewellery products.”'

The start-up, founded by Ishendra Agarwal, Nikita Prasad, and Sachin Shetty in 2019, offers an exclusive jewellery collection of rings, necklaces, earrings, bracelets, and pendants.

Giva products are currently available online on its website and marketplaces such as Amazon, Myntra, AJIO, TataCliq , Nykaa, and others.