Once known as an affordable silver jewelry startup, is now quickly becoming one of India’s fastest-growing omnichannel jewelry brands. Investors are placing significant bets on its expansion story.

The Bengaluru-based startup plans to raise Rs 270 crore through a multi-tranche debt funding round led by BlackSoil Capital. Other participants include InCred Group, Stride Ventures, and Nuvama Group

The funding will come through multiple debenture issuances, showing strong institutional confidence in GIVA’s bold retail growth strategy. BlackSoil Capital will contribute Rs 90 crore, while InCred Credit Fund and Stride Ventures will each invest Rs 70 crore. Nuvama Crossover Yield Opportunities Fund will add another Rs 40 crore. This debt carries a fixed annual interest rate of 13.4%, payable monthly.

Founded in 2019 by Ishendra Agarwal, GIVA entered the market as a digitally focused affordable jewelry brand aimed at young Indian consumers. Over the years, the company has expanded beyond silver jewelry into gold jewelry and lab-grown diamonds. These segments are seeing rising demand among modern buyers who want both affordability and quality.

What has truly driven GIVA’s growth is its omnichannel strategy. Rather than staying online-only, the startup moved into offline retail using a franchise-led expansion model. Today, GIVA operates around 210 stores across 25 Indian cities, combining physical outlets, website sales, and its mobile app. The company previously stated plans to exceed 300 outlets by the end of FY26.

Investors seem encouraged not just by the expansion but also by the company’s increasing scale. For the financial year ending March 2025, GIVA reported an impressive 89% rise in operating revenue, reaching Rs 518 crore. While losses grew, they remained relatively controlled at 22% year-on-year, totaling Rs 72 crore. This suggests that the company is balancing growth with operational efficiency.

The latest debt raise might also be part of a broader funding strategy that includes both debt and equity. So far, GIVA has raised over $158 million, including a Rs 110 crore Series C extension round earlier this year led by HPV CC1 Ltd.

As India’s organized jewelry market continues to shift toward branded and digital-first players, GIVA is positioning itself as a strong competitor in the next generation of jewelry retail.