Why Hype is the next Unicorn of Luxury Mobility in India

While unicorns were a big part of our dreams and fantasies as kids, India is going stronger than ever with unicorns in real life! Confused? In case you’re new to the world of startups, business, or technology, the word ‘unicorn’ may confuse you. After all, why is this animal that was a big part of our imagination, used in the world of start-ups? One thing we knew even as kids was that unicorns are mythical creatures and the possibility of ever seeing one
was rare. Similarly, these unicorns in the world of start-ups are extremely rare, because there are few that can actually become a unicorn company.
To cut things short, a Unicorn is any privately held start-up company that is valued at over $ 1 billion. I bet things make sense now, don’t they? For a start-up to be able to reach that stage of valuation is no easy feat, which is why there are very few unicorns in the world, out of the total pool of start-ups.
While countries like the USA & China are battling it out for the top spot when it comes to the number of unicorns, India is slowly yet steadily going higher on the ranks. As per the Hurun Global Unicorn List 2020, India is home to 21 unicorns, valued at $73.2 billion. While Paytm, a FinTech start-up is at the top amongst unicorns in area, E-commerce start-ups constitute 33 percent of the Indian unicorn start-ups. Unsurprisingly, Bengaluru is India’s
unicorn hub, with 8 out of the 21 unicorns located in the city.

While Ola has made a name for itself in the mobility space and in this list of unicorns, the mobility services Ola offers are popular because of the pricing and because Ola had a first-mover advantage compared to a lot of mobility start-ups that came up later. When it comes to quality and user experience, Ola lags far behind. With several cases of unprofessional drivers,
canceled rides, and taxing carpool rides, a lot of people are dissatisfied. Time is money and people in metro cities now crave more than just a ride. They crave mobility experience. This is exactly why, in my opinion, Hype is the next mobility unicorn of India.

Hype, founded by Mr. Raghav Belavadi is India’s first Luxury Mobility Startup. While it is headquartered in Bengaluru, it provides luxury car rentals in over 15 cities in India. Hype’s fleet of cars is bound to stun any car enthusiast. From Lamborghini and Audi to BMW and Range Rover; you name it, Hype has it. You can choose to opt for a chauffeur-driven or self-driven ride in any of Hype’s 3800 luxury cars across the country. At Hype, cleanliness, exclusivity, and safety combine to give you a luxury mobility experience that stays on your mind even after you reach your destination.

Hype’s mobility services are not for the common man. They are for working professionals, business people, and people living in metros and Tier 1 cities, who have sufficient purchasing power and want to ensure that their commute is more than just a ride. Imagine an IIM graduate who is traveling for an hour after work, from Nariman Point to Bandra- a person whose starting income is likely to exceed 1 crore, will want a ride that gives him/her privacy, safety, and impeccable service. A woman in her late 20s who is on the Forbes 30 under 30 list, who just left the office of her start-up and is heading to a networking event, an upcoming actor, a chartered accountant working with a Big 4 firm, these are people who crave an excellent experience. Working professionals like that earn thousands per hour, and they would not want to waste 30 minutes arguing with an Ola driver.

That’s where Hype stands out. If you’re in a Hype ride, there’s no question of carpooling and going on tiresome routes to save money. Booking a Hype ride means you will be greeted by a well-groomed chauffeur who will uphold high standards of professionalism throughout.

Being in a Hype ride means the luxury car you’re in will have been fumigated and sanitized before you even set foot in the car. A Hype ride is about panache, elan, and impeccable service.

But enough with the product offering, if you’ve read this piece so far, you’re either really interested or completely skeptical. So let me talk about numbers. Hype has over 600,000 users on its platform. It has had 6x growth in the last 2 years. Hype accounts for 180,000 hours of rides and INR 480 crores of asset ride. It has partnered with some of the biggest names in the business world today, from CRED and American Express to Starbucks Coffee and Luxury Escapes. The way I see it, Hype has one goal: to expand the idea of seamless luxury mobility first across India and then all over the world.

There are great ideas that are executed badly and then there are ideas that we now know as some of the biggest companies in the world. What’s common amongst all of India’s 21 unicorns is that great ideas are executed well, improvised well, and continue to do so. And Hype continues to do exactly that. In an economy that loves ‘jugaad’ and idolizes those who save money, we are seeing a new generation of spenders who want to splurge on everything
right. This generation cares about minimalism and mindfulness. It has the money and the right amount of monetary prudence. This generation aspires to do more and be more. And be it a combination of luck, execution, and leadership or sheer timing, but Hype is catering to this growing class of people.
If I were you, I’d lay my bets and my eyes on this Bengaluru-based start-up that will soon take the country by storm. Hype is undoubtedly the next mobility unicorn of India. Unlike other statements we make daily, this is one truth that doesn’t need any false fabrications.

This time, the ‘Hype’ is real.