# GIVA raises over $100 million in funding led by Multiples PE

2026-11-03T12:41:05+00:00 | Business & Economy | Indian Opinion Desk

Corroboration: 5 independent outlets

Bengaluru-based jewellery brand GIVA has raised over $100 million (₹975 crore) in a funding round led by Multiples Alternate Asset Management, with existing investors Epiq Capital and Edelweiss Discovery Fund also participating. The transaction includes primary and secondary capital and GIVA's seventh ESOP buyback, which will benefit around 50 to 60 employees. Early investors India Quotient and Sixth Sense Ventures are partially exiting, while Multiples gets a board seat. The company did not disclose its current valuation but indicated it is higher than the ₹4,500 to ₹4,800 crore range from its previous round, with Livemint reporting a range up to ₹6,000 crore. GIVA reported revenue of approximately ₹865 crore in FY26, against ₹505 crore in FY25, and narrowed its negative EBITDA margin to single digits. The brand operates around 425 stores and plans to add 160 outlets this financial year (FY26-27), focusing on Tier II and III cities. It aims to reach over 1,000 stores in the next three to five years. The fresh capital will be used to scale manufacturing, strengthen the leadership team and expand its omnichannel presence.

## Indian Opinion Analysis

All five sources report the same core facts: GIVA raised over $100 million led by Multiples PE, with Epiq Capital and Edelweiss Discovery Fund participating, and plans to add 160 stores this fiscal year (FY26-27). The coverage is uniform straight reporting with no discernible stance variation across outlets. Inc42, CNBC-TV18, Fortune India, Livemint and Entrackr all lead with the fundraise figure and offline expansion plans, each quoting Ishendra Agarwal or the company statement. The only substantive difference is that Livemint gives the valuation range as between ₹4,800 crore and ₹6,000 crore, while Inc42 reports the previous round at ₹4,500 to 4,600 crore and Entrackr notes $28 million in debt raised in May 2026 as possibly part of this round. The uniformity suggests this is an uncontroversial business fundraising story with no political or regulatory angle.

## Coverage

Coverage: 5 sources, 5 neutral
- inc42.com (neutral report) <https://inc42.com/buzz/giva-raises-%E2%82%B9975-cr-led-by-multiples-pe-eyes-160-new-stores-in-fy27/>
  Straight reporting of fundraise and expansion plans
- cnbctv18.com (neutral report) <https://www.cnbctv18.com/business/companies/giva-raises-over-100-million-in-funding-round-led-by-multiples-20026064.htm>
  Straight reporting with ESOP buyback emphasis
- fortuneindia.com (neutral report) <https://www.fortuneindia.com/business-news/giva-raises-100-million-from-multiples-pe-as-jewellery-brand-eyes-1000-stores-in-3-5-years/168401>
  Straight reporting with market context
- livemint.com (neutral report) <https://www.livemint.com/companies/news/jewellery-startup-giva-fundraise-multiples-pe-india-jewellery-market-11793696281070.html>
  Straight reporting with valuation range detail
- entrackr.com (neutral report) <https://entrackr.com/news/giva-raises-over-100-mn-in-funding-round-led-by-multiples-pe-12779542>
  Straight reporting with debt round note

This brief was synthesised by AI from the 5 sources linked above, so one read covers every framing they carry.
Update, 3 November 2026: this story now draws on 5 sources. Last updated 2026-11-03T13:29:52+00:00.

Tags: GIVA, Ishendra Agarwal, lab-grown diamonds, Multiples Alternate Asset Management
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Cite: https://indianopinion.org/giva-raises-rs975-crore-led-by-multiples-to-open-160-stores-this-year/#story-in-brief

How this brief was made: an AI model read the reports linked above and wrote this summary and analysis, which were published automatically. Published briefs are sampled every hour by an automated quality check; the editor verifies its findings and approves corrections, and corrected briefs carry a dated correction line. Stance labels are editorial classifications of how each outlet framed this story, assigned by the same model, not ratings of the outlets. We do no original reporting. Methodology: https://indianopinion.org/ai-use-policy/