New Delhi-based HYPD has raised $4 million in a pre-Series A funding round led by Orios Venture Partners, with participation from existing backers SauceVC and Better Capital.
With this, the startup aims to speed up the acquisition of creators, branching out into more categories and growing its team and product growth.
Launched in 2020 by Ashwarya Garg and Akshay Bhatnagar, Hypd is an online platform that allows creators to build their own multi-brand digital storefronts inspired by their content, via which they can curate products and services and enable a native checkout for their followers on social media.
Prior to this, The startup had raised $1.5 million in a seed funding round from Better Capital, Sauce VC; creators and influencers Bhuvan Bam, and Tanmay Bhatt, among other investors.
In February 2021, Hypd raised an undisclosed amount in a seed round from the digital media company ScoopWhoop.
The platform has primarily concentrated on fashion and beauty but has observed a steady rise in GMV for fitness and food & beverages as well. The company intends to leverage the current funding to accelerate growth in categories like pet care, travel, and home decor.
It aims to empower 100,000 creators by 2025, both in English-Hindi and regional languages.