Goyaz Raises ₹130 Crore Series A Funding to Expand Indian Jewellery Retail

Hyderabad-based jewellery brand Goyaz has raised ₹130 crore ($14.6 million) in its first institutional Series A funding round led by US-based venture capital firm Norwest Venture Partners, aiming to expand its retail presence across key Indian metros and tier-II cities. Founded in January 2023, Goyaz specializes in gold-plated silver jewellery that offers a premium yet affordable alternative to traditional gold ornaments, currently operating 18 stores across multiple Indian states. The funds will be used to enhance store footprint, strengthen design and manufacturing capabilities, and improve the omnichannel customer experience. Goyaz’s CEO Priyanka Vemuluri emphasized that the investment will accelerate growth, diversify collections, and deepen market reach, while Norwest India's leadership highlighted the brand's alignment with shifting consumer preferences amid soaring gold prices. The partnership underscores confidence in India's rising premium jewellery market, driven by younger consumers seeking authenticity and affordability. Goyaz is positioning itself as a profitable, tech-enabled business blending traditional craftsmanship with modern retail strategies to capture evolving demand.