Creator Tech Platform HYPD Raises $4 Mn From Orios Ventures, Others
HYPD, a tech platform for content creators to drive commerce, has raised $4 million in a pre-series A round from Orios Venture Partners. Existing investors Sauce VC and Better Capital also participated in the fundign round.
As per the startup, the freshly raised funds will be used to speed up the acquisition of creators, branch out into more categories, and grow its team and product.
HYPD | Shopify For Creators
Started by Ashwarya Garg and Akshay Bhatnagar in 2020, HYPD is a creator-tech startup that turns creators into creator-preneurs by enabling them to monetise their influence through their own creator store.
It enables creators to build their digital storefronts to curate products and services, enabling a native checkout for their followers on social media.
Speaking about the development, Ashwarya Garg, Co-founder of Hypd, said,
“We are living in a time and age where the sum product of our consumer persona and buying behaviour is directly influenced by the content we watch.”
The creator-tech startup has experienced over 40-fold GMV growth, while its creators’ total earnings have touched a million dollars.
As per Ashwarya, there has been a global explosion of creators harnessing the power of their self-built online communities. By leveraging their own distribution, creators will be directly responsible to drive 30- 40 per cent of all ecommerce in this decade.
Commenting on the development, Anup Jain, Managing partner at Orios Venture Partners, said,
“Brand marketers have realised the power of influencer-led marketing that is currently growing at a CAGR of 25% and is set to reach a GMV of $4 billion by 2025. It is very difficult to identify, manage and track hundreds of creators and their ROI manually. This is the thesis behind our investment in Hypd, which enables creators and brands on their tech platform.”
As per the startup, its top-performing creators have seen an increase of up to 100 times in earnings, while the top 10% of creators have seen their earnings rise by 25 times.
Backed by renowned creators Ranveer Allahbadia, Tanmay Bhat, and Bhuvan Bam, Hypd aims to empower 100,000 English, Hindi and regional creators by 2025 with their own digital storefronts, enabling them to tap into India’s $100 billion commerce market.
Note: If you are a budding entrepreneur and require assistance to register a Pvt Ltd Company, register a company, create financial projections, business development, LLP Registration, compliance filing, funding formalities, debt funding, CFO Services, or other startup related legal services, contact us.