Goyaz Secures Rs 130 Crore Series A Funding From Norwest
- Goyaz, a Hyderabad-based jewellery brand, has raised Rs 130 crore (US $14.6 million) in Series A funding led by Norwest Venture Partners (India).
- The funds will help expand retail presence, enhance design & manufacturing, and strengthen omnichannel operations across key Indian cities.
- Founded in January 2023 by Priyanka Vemuluri, Goyaz has grown rapidly with 18 stores, focusing on gold-plated silver jewellery blending traditional craftsmanship with modern design.
The Hyderabad-based jewellery brand Goyaz has raised its maiden institutional funding of Rs 130 crore (around US $14.6 million) in a Series A round led by Norwest Venture Partners (India). This significant funding is indeed a vote of confidence in the business model and growth potential of Goyaz.
According to the company, the new capital will be deployed to extend its retail presence across key Indian cities, while accelerating further improvements in design and manufacturing capabilities, including strengthening its omnichannel presence.
Goyaz was founded in January 2023 by Priyanka Vemuluri and operates in a very niche segment of gold-plated silver jewelry, blending artistry rooted in traditional Indian craftsmanship with very current design sensibilities. In less than two years, it has scaled rapidly to launch 18 retail stores across several states.
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It claims to offer BIS-hallmarked and certified products and supports its products with services like lifetime stone replacement and a 55% exchange value, indicating quality and customer trust.
In a statement, Priyanka Vemuluri said, "The partnership with Norwest will further enable Goyaz to expand the reach of our carefully curated occasion jewellery, expedite growth, diversify our collections, and fortify our retail presence in major markets". Norwest, which manages more than US $12.5 billion in global capital, said Goyaz is "an exciting opportunity in the evolving premium-silver jewellery category in India, driven by young consumers seeking authenticity, affordability and modern omnichannel experiences".
With this infusion of capital and institutional support, Goyaz cements its position among the fastest-growing new-age jewelry brands in India, as it bridges the gap between traditional heritage jewelry and modern retail innovation.
