Hype Luxury, a Bengaluru-headquartered luxury car rental startup, has raised an undisclosed amount in Pre-Series A funding from new early-stage startup fund MarsShot Ventures.

As per the startup, the Pre-Series A funding will be used as part of building a global luxury brand in an international arena.

Founded in 2017 by Raghav Belavadi, along with Vijaya Belavadi, Hype Luxury claims to be India’s biggest luxury car rental company and is a platform for premium customers seeking to ride luxury cars, yachts and jets across the country.

Speaking on the development, Raghav Belavadi, Founder and CEO of Hype Luxury, said,

“Everything Hype does is on the backbone of the strong and secured payment gateway supported by Razorpay. Harshil is fond of driving luxury cars. That way, we both share a lot of mutual respect and admiration. I am betting on the invaluable network that they bring on board in our growth phase, especially in our international expansion.”

Hype is operational across 23 cities in India and recently partnered with Enterprise Exotic Cars, a leading American car rental company. With this partnership, the luxury car rental startup has expanded its operations in the UK, offering world-class luxury cars with competitive pricing.

Hype claimed it has seen over 100% growth post-COVID-19, crossing a million dollars in revenue.

MarsShot Ventures is a fund created by Razorpay co-founders Harshil Mathur and Shashank Kumar. Recently incorporated, the fund has made dozens of investments in the tech sector, with most investments being Seed and Pre series-A rounds of investments.

According to the statement, investment in Hype Luxury is the first time MarsShot has ventured into a luxury startup having a large premium customer base in India.

Need legal assistance for your startup? Just contact us.

Follow us and connect with us on Instagram, Facebook, Twitter and LinkedIn.