Jewellery company Giva has raised Rs 530 crore in a Series C funding round, led by growth-stage investment firm Creagis at an undisclosed valuation. Previous investors such as Premji Invest, Epiq Capital, and Edelweiss Discovery Fund also took part in this round.

The firm plans to broaden its retail presence and expand its assortment of lab-grown diamonds. The funding will be utilized to enhance its omni-channel strategy and branch out into new product categories, including lab-grown diamond jewellery.

Based in Bengaluru, Giva currently operates more than 240 physical stores across India and intends to open up to 150 additional stores this year, particularly targeting tier II cities where they have experienced strong demand.

Founded in 2019 by Ishendra Agarwal and Nikita Prasad, Giva initially focused on selling 925 sterling silver jewellery but has since diversified into 14K/18K gold and lab-grown diamond offerings. To date, the company has raised nearly $60 million in funding, with its last funding round occurring in October 2024, when it secured Rs. 255 crore from a consortium of investors at a valuation of Rs.2,170 crore.

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Lab-grown diamonds, which share the same physical and chemical properties as mined diamonds, currently account for 30 percent of the global diamond jewellery market, with the US representing 75–80 percent of total consumption, according to estimates by Wazir.

Their popularity in India has been on the rise recently. With prices ranging 30-50 percent lower than those of natural diamonds, these stones have made it possible for many Indians to fulfill their aspirations of owning diamond jewellery.

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Companies in this sector have observed a surge in adoption. By February 2025, approximately 30 lab-grown diamond brands were operational in India, with nine selling online, based on data compiled by retail consulting firm Wazir Advisors. Meanwhile, the offline segment operates over 200 stores dedicated to selling lab-grown diamond jewellery throughout India.