HiYo Secures $500K Funding for Development of Creator-Led Brands in D2C Space
- ByStartupStory | March 24, 2023
HiYo was established in August 2022 with the goal of creating efficient e-commerce models. The company is dedicated to continuous innovation on the e-commerce front, prioritizing simplicity. Its inaugural brand, FAADU!, was introduced in March 2023.
HiYoo, a D2C brand, has announced the successful raising of $500,000 in investment for expanding its business. The company aims to disrupt the D2C business ecosystem by leveraging engaged communities to optimize the consumer acquisition cost (CAC). This approach significantly reduces the cost of customer acquisition. The round saw participation from Shachin Bharadwaj, founder of Zeno Collectibles, and Arun Prabhudesai, CEO & founder of Armoks Media.
In March of this year, HiYo launched their first brand, FAADU!, which has already garnered attention from engaged communities throughout India. By offering trendy apparel to loyal communities such as Shorts Break and Take a Break, HiYo plans to expand the offerings of FAADU! To more creators. The company has aggressive plans for growth.
Founder of HiYo, Yash Garg, expressed that the investment is a significant boost to their efforts of creating a seamless experience for both consumers and creators. The company plans to launch one more brand this year and expand into the consumer technology space. Arun Prabhudesai, who participated in the investment round, is excited to support HiYo’s vision of building creator-led brands that are relevant to their audiences. Prabhudesai believes that content is driving the future of commerce and HiYo is poised to become a major player in this field.
Shachin Bharadwaj commented on the event, stating that adding a commerce layer to a large and engaging community creates a new distribution-first marketing opportunity. He expressed his happiness in supporting Yash and his team at HiYo as they innovate and optimize customer acquisition costs for brands and content creators.
HiYo remains committed to continuously innovating on the e-commerce front with a focus on simplicity. The company plans to launch more consumer-centric, creator-content-led brands in the near future. As CACs continue to rise for D2C brands, a significant portion of revenue is spent on marketing activities. HiYo aims to be an umbrella house of brands, providing consumers with a wide range of options.
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