GIVA raises Rs 40 Cr in debt from Alteria Capital
Venture debt fund Alteria Capital has invested Rs 40 crore of venture debt funding in silver jewellery startup GIVA.
The startup’s collection includes earrings, necklaces, bracelets, and rings, crafted from sterling silver for everyday wear.
“We plan to deploy the raised capital in driving channel expansion and further expanding our range of exquisitely crafted jewellery products,” said Ishendra Agarwal, Co-founder, GIVA.
GIVA claims to have an omnichannel presence with more than 50 offline touchpoints currently active across the country. It expects this to exceed 200 by the end of 2023 and achieve revenues of Rs 350 crore in FY24.
The company has raised $17.5 million till date from investors like A91, Sixth Sense, Aditya Birla Ventures, Anicut and India Quotient.
“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,” said Ankit Agarwal, Managing Partner, Alteria Capital.
Alteria Capital has a corpus of Rs 3800 crore across three funds. It recently had the first close of its third fund of Rs 1000 crore from domestic investors and has backed over 120 companies across sectors and stages. Some of the companies it has backed include Rebel Foods, Mensa Brands, Believe, Mosaic Wellness, Sleep Company, Niyo, Country Delight, Kapiva, Jupiter among others.
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