Home Breaking News Scoopwhoop invests undisclosed amount in e-commerce platform Hypd

Scoopwhoop invests undisclosed amount in e-commerce platform Hypd

Indian Startup

Scoopwhoop invests undisclosed amount in e-commerce platform Hypd
Scoopwhoop invests undisclosed amount in e-commerce platform Hypd

India-based e-commerce platform Hypd has announced in February 2021 that it has raised an undisclosed amount from Indian digital media company ScoopWhoop in a pre-seed funding round.

The startup will use proceeds from the funding round to develop its product, increase the headcount of its team, and conduct marketing activities.

Ashwarya Garg and Akshay Bhatnagar launched Hypd Store in 2020. The startup publishes content for D2C brands on its website where users can buy products that influencers promote. In a way, it helps the influencers on its app to make money via its edutainment content.

Akshay Bhatnagar said, while they are helping brands by making the best use of their content investments, they are also aggressively rooting for the creators’ economy by mapping every sale to a content inspiration and thus a creator’s cut. The startup claims to have had over 20,000 downloads, with over 50 brands getting about 80% conversions. Few of the D2C brands Hypd has worked with since it launched its beta version in November 2020 are TheManCompany, Doodlage, PeeSafe, Fast&Up, Khadi Essentials, Flatheads, among many more.

The latest funding obtained by Hypd comes at a time when India’s e-commerce market is anticipated to reach US$ 200 billion by 2026. Sattvik Mishra, CEO at ScoopWhoop Media said he expects a massive shift towards content-driven shopping, and the Hypd Store is bridging the gap between discovery and transaction with a focus on content creators. As per a press statement from Hypd, with 500 million mobile internet users, and the e-commerce industry progressing at a compounded annual growth rate (CAGR) of 38.6 per cent between FY’17 and FY’20, the content going to commerce channels are likely to make 15-20 per cent of all e-commerce sales in the upcoming five years.

ScoopWhoop Media

ScoopWhoop Media is an Indian digital media company headquartered in New Delhi. It runs several online content verticals and serves as a news organization featuring web series, documentaries and current affairs with a focus on video production and mainly catering to teenagers and young adults. The company was co-founded by Sattvik Mishra, Rishi Pratim Mukherjee, Sriparna Tikekar, Saransh Singh, Suparn Pandey and Debarshi Banerjee in 2013.

We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know

-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!

Next Story

Previous articleFraction Technologies secures CAD 289M in equity and debt financing
Next articleFintech startup Safepay secures undisclosed amount in seed funding
Aishwarya writes about the startup ecosystem on VCBay. She is a third-year Computer Science engineering student who looks forward to exploring the world of startups and finance.

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here