D2C jewellery startup GIVA has raised ₹102 crore through a mix of debt and equity from Alteria Capital and Northern Arc, according to data sourced from market intelligence platform Tofler.

This latest fund infusion comes months after the startup closed its extended Series B funding round at ₹255 crore in October 2024, with investments from Premji Invest, Epiq Capital, Edelweiss Discover Fund, and GIVA’s top management. The funds from that round were allocated for expansion plans, strengthening its offline presence across India, enhancing its lab-grown diamond offerings, and facilitating strategic investor exits.

In its latest round, GIVA raised capital by allotting compulsorily convertible cumulative partly paid preference shares, while also securing additional debt from Northern Arc through the issuance of non-convertible debentures.

Founded in 2019, GIVA started as an affordable jewellery brand, and has expanded into gold jewellery and lab-grown diamonds. The company operates around 150 physical stores nationwide and has introduced a franchise-led model for broader reach.

Businessline had earlier reported that the startup widened its losses by 31% to ₹59 crore in FY24, up from ₹45.23 crore in the previous year.

GIVA’s revenue grew to ₹274 crore in the fiscal year ending March 2024, compared to ₹165 crore in FY23. Meanwhile, the cost of procurement increased by 53.3 per cent to ₹115 crore in FY24 from ₹75 crore in FY23, according to Tofler data.