Occasion-led jewellery brand Goyaz has raised Rs 130 crore ($14.6 million) in a Series A round led by Norwest Venture Partners, marking the company’s first institutional capital infusion. The investment will support the brand’s national expansion, capacity-building in manufacturing, and the enhancement of its omnichannel retail strategy.

Founded in 2023 by Priyanka Vemuluri, Goyaz focuses on gold-plated silver jewellery, positioning it as a refined, accessible alternative to conventional gold. With gold prices at record highs, the brand aims to make celebratory and bridal jewellery more attainable without compromising design, craftsmanship, or cultural resonance. The company has scaled quickly over the past year, now operating 18 stores across multiple states, and is preparing to deepen its presence in key metropolitan and tier-two markets.

“We are delighted to welcome Norwest as our inaugural institutional investor. This partnership will help us expand our reach and advance our vision of offering finely crafted occasion jewellery at accessible pricing. As we scale, we remain committed to exceptional craftsmanship and innovation,” said Vemuluri.

Niren Shah, Managing Director and Head of Norwest India, noted that Goyaz addresses a significant consumer shift. “With rising gold prices, value-conscious consumers are seeking design-rich alternatives. Goyaz is creating a meaningful new category rooted in both heritage and contemporary style,” Shah said.

Ankit Prasad of Norwest highlighted the brand’s strong fundamentals and profitable growth. PwC advised the transaction, with JSA as legal counsel.