The funding round, led by Multiples Alternate Asset Management, includes participation from existing investors Epiq Capital and Edelweiss Discovery Fund, alongside the company’s seventh ESOP buyback
Bengaluru-based jewellery brand Giva has raised over USD 100 million in a funding round led by Multiples Alternate Asset Management, with existing investors Epiq Capital and Edelweiss Discovery Fund also participating. The transaction also includes the company’s seventh employee stock ownership plan (ESOP) buyback, allowing employees to monetise a portion of their stock options.
The fresh capital will be used to expand Giva’s retail network, strengthen manufacturing capabilities and build its leadership team. The company aims to increase its store count to more than 1,000 across India over the next five years.
Founded in 2019 as a digital-first silver jewellery brand, Giva has expanded its portfolio to include gold and lab-grown diamond jewellery. It currently operates more than 400 stores across India and Sri Lanka, alongside its direct-to-consumer website and presence on third-party e-commerce and quick-commerce platforms.
The company closed FY26 with revenue of around Rs 865 crore, having recorded a compound annual growth rate (CAGR) of over 70 per cent during the past three years.
“This is a defining moment for Giva and the larger Indian fine jewellery industry. Since 2019, we have been building a brand that makes fine jewellery more accessible and relevant to the everyday lives of Indian consumers,” said Ishendra Agarwal, Founder and CEO, Giva. He added that the latest funding round coincides with the company’s seventh ESOP buyback, enabling employees to participate in the value created by the business.
Sridhar Sankararaman, Managing Director, Multiples Alternate Asset Management, said Giva’s retail expansion, entry into new product categories and focus on customer retention were among the factors behind the investment. He also pointed to growing consumer preference for lightweight jewellery suitable for everyday wear. Whereas Chinmay Katdare, Partner, Epiq Capital, said Giva had tripled its revenue since the firm’s initial investment and expanded its product portfolio beyond silver jewellery.
Giva described the fundraise as the largest investment in an Indian new-age jewellery brand. India’s jewellery market is estimated to grow at a CAGR of around 6 per cent to reach USD 124 billion by 2032.
