GIVA Raises Rs 255 Cr for Offline Expansion, Lab-Grown Diamonds

New Delhi, Oct 14 (PTI) Jewellery retailer GIVA on Monday said it has raised Rs 255 crore in a funding round, as it looks to expand its offline presence and bolster its lab-grown diamond offerings.

The extended Series B funding round was led by Premji Invest, Epiq Capital, and Edelweiss Discover Fund, with participation from GIVA's top management.

GIVA plans to use the funds for expansion across India and to enable strategic investor exits, the company said in a statement.

The round facilitated partial exits for early investors A91 Partners and India Quotient.

"Our focus remains steadfast on holding our position as the number one silver jewelry player in the market, while further fortifying our lab-grown diamond segment," GIVA Founder and CEO Ishendra Agarwal said.

The company also aims to broaden its gold offerings and consolidate its market presence, Agarwal added.

GIVA did not disclose the new valuation or the size of the stakes sold by existing investors.