Hypd Marketing Technologies Pvt Ltd, which operates creator-owned platform HYPD, said it has raised $1.5 million (around Rs 11 crore) in a seed funding led by venture capital funds Better capital, Sauce VC; creators and influencers Bhuvan Bam, Tanmay Bhatt, among other investors.
The round also saw participation from investors including Aditya Sehgal (ex-president Reckitt), Harish Narayan (CMO, Myntra), Revant Bhate (CEO, Mosaic Wellness), Shantanu Deshpande (CEO, Bombay Shaving Company), Ritesh Malik (founder Innov8), among others.
The Delhi-based company will use the fresh funds across marketing and development.
HYPD was launched in 2021 by Ashwarya Garg and Akshay Bhatnagar to create a sustainable source of income for content creators. It helps the creator community to set up their stores or businesses. The duo had earlier worked with companies including Zo Rooms and Innov8 Coworking.
“Every entrepreneur wants to be a creator, and every creator wants to be an entrepreneur. Taking cues from this prevalent tendency, HYPD is paving way for a new breed of creators called Creator-Preneurs," said Garg and Bhatnagar.
“Every creator at some point in time has to turn into an entrepreneur to earn from what they love doing and HYPD’s business-in-a-box solution makes it so much easier for every creator out there to monetise their audience at one destination, owned by themselves," said Bhuvan Bam, comedian and Youtuber.
Last year, the platform raised an undisclosed sum in a strategic pre-seed investment from digital media company ScoopWhoop. It is also planning to raise its Series-A funding.