Retail & Consumer Internet
VedaCorp advises GIVA, a leading D2C silver jewellery brand on its Series A investment of $10M from Sixth Sense Ventures, A91 Partners & others
About
GIVA
Founded in 2019, GIVA is India’s leading white metal jewellery brand. It aims to fill the INR 500-15,000 price gap by offering precious yet reasonably priced jewellery. In addition to silver, the Company also offers a range of designs in metals like 18K Gold, Rose Gold, and Oxidized Silver with embellishments of zircon, pearl, marcasite, and other coloured stones. The Company has grown rapidly and expecting to achieve revenues of INR 200cr in FY 2022.
A91 Partners
A91 Partners is a Mumbai based PE firm, which was spun out of Sequoia Capital India three years ago, has backed companies like Digit Insurance, cosmetics brand Sugar, software platform Exotel, among others, betting largely on companies across technology, consumer and financial services.
Sixth Sense Ventures
Sixth Sense Ventures is country’s first domestic, consumer centric fund which backs early-to-growth-stage consumer companies. Its portfolio comprises of Bombay Shaving Company, beer-maker Bira, sauce-maker Veeba Foods and Sachin Tendular-backed entertainment arena Smaaash, amongst others.
Background
We are pleased to announce that our client, Indiejewel Fashion Private Limited (“Giva”), a leading D2C fine silver jewellery brand, has raised $10M from Sixth Sense ventures , A91 Partners and other existing investors. The funds will help GIVA proliferate both online and offline channels with its range of modern silver jewellery that are crafted with quality for everyday use. A part of the funds will also be used to scale up international presence.
Veda Corporate Advisors (“VedaCorp”) was the exclusive financial advisor to the Company.
This marks VedaCorp’s 16th transaction overall in the consumer internet and retail space and further strengthens our new age franchise by taking to market many internet first businesses.