SSIO – III
Founded by Ishendra Agarwal, Nikita Prasad, and Sachin Shetty, GIVA operates in the Indian online jewelry industry, by selling products made of Silver, for women. The company offer a perfect confluence of factors to scale up a new-age jewelry business; They have achieved a right mix of channel (online dominated), product (affordable silver jewelry designed for the modern consumer, driving repeats) and customer engagement (solidifying brand salience).
With the space highly fragmented and underpenetrated (<5% of silver jewelry sales coming from online channels), the $150m online silver market is at an inflection point and set to grow at 25%+ CAGR. Already growing at a healthy pace, with products with white-metal minimalistic designs, GIVA is well positioned to capitalize on the macro shift towards “modern” jewelry.
“We are ecstatic to have concluded our Series A funding round led by Sixth Sense Ventures. This funding round is a testament to the inroads made by GIVA in the short span of time and reflects the immense growth potential available. We will be employing these funds to innovate contemporary offerings in the jewellery space, expand our presence globally and augment our online and offline sales channels. We are excited to partner with Sixth Sense Ventures and their expertise in building consumer brands will serve as a guiding force to help catapult GIVA onto the next growth phase.”
Ishendra Agarwal, Nikita Prasad, and Sachin Shetty