Hypd, enabler of creator-owned marketplace, has raised $4 million in a pre-series A round led by Orios Venture Partners. The funding saw the existing investors Sauce VC and Better Capital double down in the round.
With the recent funding, Hypd is speeding up the acquisition of creators, branching out into more categories, and growing its team and product, the company said in a press release.
Hypd’s tech platform enables 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.
Since its inception 12 months ago, Hypd claims to see a GMV growth of over 40-fold and total creator earnings touching a million dollars. Founded by Ashwarya Garg and Akshay Bhatnagar, the company aims to empower 100,000 creators by 2025, both English-Hindi and regional.
So far, the company has been focusing on key categories – fashion and beauty. However, it has also seen a steady increase in GMV for categories like fitness and food & beverages as well. With this fundraise, it is further planning to facilitate and expedite growth in categories such as pet care, travel, and home decor.
Previously, Hypd had raised $1.5 million in seed funding led by Better Capital, Sauce VC; creators and influencers Bhuvan Bam, Tanmay Bhatt, among other investors.