Indian startups Giva and Whatfix have secured major funding in 2024. Both companies are set to use these funds to expand their reach and improve their products. Giva, a jewelry brand, raised ₹100 crore, while SaaS company Whatfix secured $125 million.
Giva, an omnichannel jewelry startup, raised ₹100 crore (about $12 million) in an extended Series B round led by Premji Invest. This is the first time the company raised funds in 2024. Giva’s valuation now stands at ₹2,000 crore. The Bengaluru-based brand offers affordable and gold jewelry, as well as lab-grown diamonds. It operates 110 stores across India.
Giva has raised over $60 million from investors such as Aditya Birla Ventures and A91 Partners. Its revenue jumped 96.4% to ₹165 crore in FY23, but losses widened to ₹45 crore due to rising costs. Giva competes with brands like Melorra, Bluestone, and CaratLane.
Whatfix, a digital adoption platform (DAP) provider, raised $125 million in a funding round led by Warburg Pincus. Warburg invested $100 million, while SoftBank added another $25 million. Whatfix is now valued at $900 million, up from $568 million in 2021.
Founded in 2014, Whatfix helps companies boost user productivity and improve their digital tools. It serves over 700 global clients, including Microsoft, Shell, and Cisco. The new funds will help Whatfix grow in the US, EMEA, and APAC regions. It will also focus on AI and acquisitions.
Whatfix’s annual recurring revenue (ARR) is $75 million, with plans to hit $100 million soon. The company’s revenue grew 45% in FY24, but it reported a net loss of ₹328.3 crore in FY23. It aims to grow by 40% in the next two years and achieve profitability before launching an IPO.
These funding rounds show growing interest in Indian startups, especially in SaaS and omnichannel sectors. Indian SaaS firms raised $530 million in the first half of 2024, while jewelry brands continue to attract investors. Giva and Whatfix will use their new funds to scale operations, enter new markets, and improve products.