Creaegis may fund Giva at $470-500 million valuation

Giva, a silver jewellery and lab-grown diamond specialist, is in discussions with private equity firm Creaegis to raise $80-100 million at a valuation of $470-500 million. This proposed valuation is over two times higher than the last funding round’s valuation from two months ago.

Giva, co-founded by Ishendra Agarwal, plans significant retail expansion and emphasizes value-driven jewellery offerings. Giva currently has an annual revenue run-rate of Rs 700 crore. It posted nearly Rs 280 crore in revenue with a close to Rs 59 crore loss in fiscal 2024. In 2024, both Giva and Bluestone scooped up substantial funds in the past year as investors turned bullish towards omnichannel jewellery businesses, especially following the Tata Group’s complete acquisition of Caratlane.

Creaegis is in talks to lead the round, while others may also join but this is symbolic of the overall confidence investors have in the sector now.