Orios Venture Partners led a $4 million pre-series A round of funding for the content commerce platform Hypd.
Image@credit The Economic Times
According to a release, the round also included contributions from current investors Sauce VC and Better Capital.
HYPD enables creators to construct stores on top of their social media accounts and sell things straight to people by utilizing the open APIs of social media behemoths like Google and Meta. Then, it uses its end-to-end solution to coordinate everything from logistics to fulfillment.
The site has onboarded over 2,000 content producers since the beta launch and has another 1 lakh on a waiting list. Operating on an asset-light approach, HYPD has partnerships with companies including Sugar Cosmetics and Bombay Shaving Company. It is also in discussions to sign at least three high-end garment brands, which make up a significant portion of the market for aspirational apparel brands.
How the money will be used
According to the business, it plans to use the money to grow its staff and product, speed up the hiring of artists, and diversify into other categories.
Aishwarya Garg, a former founding partner of Innov8, and Akshay Bhatnagar, an executive at Innov8, founded Hypd in 2020. Through Hypd, producers may create their own digital shops to curate goods and services and make it possible for social network followers to complete a native checkout.
The GMV of Hypd has increased more than 40 times, and its inventors’ overall revenues have reached $1 million, according to the announcement.
“The number of creators using the strength of their own online communities has skyrocketed on a worldwide scale. Creators will directly drive 30% to 40% of all e-commerce in this decade by utilizing their own distribution. In order to facilitate this transformation, Hypd is here to enable an attribution system with a fair portion of earnings going to the artists, according to Garg’s statement.
According to the startup, the top 10% of producers had a 25-fold gain in profits, while the top 1% saw increases of up to 100 times.
According to a statement from Anup Jain, managing partner at Orios Venture Partners, “Brand marketers have realized the power of influencer-led marketing, which is currently growing at a CAGR of 25% and is set to reach a GMV of $4 billion by 2025.” “Managing, locating, and manually tracking the ROI of hundreds of creators is incredibly challenging. Our investment in Hypd, a company that empowers brands and creators on its tech platform, is based on this premise.
By 2025, Hypd claims to have given 100,000 English, Hindi, and regional producers access to their own digital stores, allowing them to participate in India’s $100 billion commerce sector.
Tanmay Bhat, Bhuvan Bam, and Ranveer Allahbadia, according to the site, are well-known creators who support it.
