Goyaz Secures Rs 130 Crore Funding to Expand Jewellery Retail Across India
Hyderabad-based Goyaz, a gold-plated silver jewellery brand, has raised Rs 130 crore in a Series A funding round led by Norwest Venture Partners. The investment aims to expand its retail network, enhance design and manufacturing, and target metro and tier-II markets amid shifting consumer preferences against rising gold prices.
- Country:
- India
Gold-plated silver jewellery brand Goyaz announced on Friday the successful raising of Rs 130 crore in a Series A funding round, spearheaded by US venture capital firm Norwest Venture Partners. This funding is set to bolster Goyaz's retail presence across India.
The newly-acquired capital will drive the Hyderabad-based company's plans to amplify its store presence in major Indian cities, refine its design and manufacturing processes, and boost its omnichannel experience. This strategic move is aimed at catering to both metro and tier-II markets.
Founded in January 2023, Goyaz has carved a niche with 18 operational stores, offering a cost-effective yet premium alternative to traditional gold jewellery. With Norwest as its first institutional investor, Goyaz aims to leverage this partnership to diversify collections and widen retail reach, amidst rising gold prices and evolving consumer tastes.
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