Orios Venture Partners led a $4 million pre-series A round of funding for Hypd, a platform for creator-owned marketplaces. Existing investors Sauce VC and Better Capital increased their investment in the funding round.
With the most recent funding, Hypd is expanding into more categories, speeding up the acquisition of creators, and expanding its team and product, the company said in a press release.
With the help of Hypd’s tech platform, content creators can create their own multi-brand digital storefronts that are inspired by their work, where they can curate goods and services and offer native checkout to their social media followers.
According to Hypd, its GMV has increased more than 40 times since its launch a year ago, and total creator earnings have reached $1 million. Ashwarya Garg and Akshay Bhatnagar founded the business, which aims to support 100,000 regional and English-Hindi creators by 2025.
The company has thus far concentrated on two important categories: fashion and beauty. The GMV for categories like fitness and food & beverages has, however, also steadily increased. With this fundraising effort, it is accelerating and facilitating growth in industries like pet care, travel, and home decor.
Prior to this, Better Capital, Sauce VC, as well as creators and influencers Bhuvan Bam and Tanmay Bhatt, among others, invested $1.5 million in Hypd as seed funding.
