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Silver jewellery brand Goyaz has raised Rs 130 crore in a Series A funding round led by Norwest. This round marks Goyaz’s first institutional investment. The funding will support Goyaz’s next phase of expansion, including widening retail presence in key cities, improving design and manufacturing, and strengthening online and offline integration. The company also aims to broaden its product range and reach more customers across metro and Tier II markets. Founded in 2023, Goyaz focuses on affordable occasion-wear jewellery. The brand said, in a statement, that it creates pieces from high-quality silver plated with gold, combining durability with premium aesthetics to offer an alternative to conventional gold jewellery. In the last few years, it has grown to 18 stores across several states. “Norwest partnership empowers us to broaden the reach of our meticulously crafted occasion jewellery. With Norwest’s strategic guidance, we aim to accelerate growth, diversify our collections, and strengthen our retail presence across key markets. Our mission remains to make premium craftsmanship accessible to every Indian household,” said Priyanka Vemuluri, Founder and CEO of Goyaz. “With gold prices soaring, traditional jewellery has become out of reach for many consumers. Goyaz captures a strong shift in consumer behaviour—blending cultural heritage with modern design and affordability. We believe Goyaz is pioneering a new and scaleable category in Indian jewellery,” said Niren Shah, Managing Director and Head of Norwest India. “Priyanka and Ravi (Ravi Vemuluri, Co-founder) have built a profitable, tech-enabled business with strong unit economics and a clear customer focus. We’re thrilled to partner with them as they lead this emerging category," said Ankit Prasad, Principal at Norwest India. Norwest India is part of Norwest Venture Partners, a leading global venture and growth equity investment firm that manages more than $12.5 billion in capital. (Edited by Swetha Kannan)
