Giva set to raise ₹270 cr debt from BlackSoil Capital
Business
Giva, a jewelry startup launched in 2019, is set to raise ₹270 crore (about $28 million) in debt funding led by BlackSoil Capital.
Other backers include InCred Credit Fund, Stride Ventures, and Nuvama Crossover Yield Opportunities Fund.
The loan comes with a fixed 13.4% annual interest rate, paid monthly.
Giva targets 300 stores by FY26
Right now, Giva has around 210 stores across 25 Indian cities and wants to cross 300 outlets by FY26.
They started out focusing on affordable jewelry but now sell gold and lab-grown diamonds too.
Last year, their revenue nearly doubled to ₹518 crore, even though losses also grew to ₹72 crore.
The new funds will help them expand further and keep up with big names like Tanishq and Melorra.