HYPE Technologies, an Indian-based luxury car company, is entering into discussions to fund raise around $30 million from several sources including BMW Group India and Mercedes India.
The company is also in discussions with private equity investors and finance management businesses.
HYPE's Chief Executive, Raghav Belavadi, stated that the company will be using the new funds to buy new car assets. The company's fleet provides luxury cars from manufacturers like Audi, BMW, Maserati, and Mercedes which consumers can reserve through the HYPE website or their app.
HYPE started up in 2017 and uses an aggregator business model while working directly with manufacturers and dealerships.