HYPE Luxury Car Rentals

HYPE Luxury offers a tech-enabled platform for renting luxury vehicles, private jets, and yachts, positioning itself in the high-end mobility and lifestyle sector. Founded in 2017 by siblings Raghav and Vijaya Belavadi, the company originated from a personal challenge in booking a high-end car, which exposed a gap in the organized luxury rental market. This experience drove the creation of a service designed to provide seamless access to premium assets without the complexities of ownership. CEO Raghav Belavadi, a mechanical engineering graduate and Oxford University alumnus, brings experience from leadership roles at major corporations like Daimler, Rolls Royce, Accenture, and Wipro.

The company's business model is primarily asset aggregation, operating a digital platform where users can book assets for self-drive or with a chauffeur. This model allows HYPE to control service standards and ensure the vehicle displayed online matches what the customer receives, a key differentiator from the disorganized market it seeks to disrupt. The business primarily serves high-net-worth individuals, corporate clients, celebrities, and diplomats, catering to needs ranging from airport transfers and weekend getaways to weddings and special events. Revenue is generated from rental transactions, with margins reported to vary between 10% and 70%. The company operates via its website and mobile app, facilitating direct bookings and online payments.

HYPE's fleet is extensive, featuring marques such as Rolls-Royce, Lamborghini, Ferrari, and Bentley, alongside a wide range of premium cars, yachts, and a global network of private jets. Initially focused on luxury cars, the company has since expanded to include premium vehicles and has significantly grown its private aviation and yacht charter services. Headquartered in Bengaluru, India, HYPE has expanded its operations to over 20 cities in India, as well as international markets including the UK and Dubai. The company secured pre-Series A funding from MarsShot Ventures, a fund started by the co-founders of Razorpay, to fuel its global expansion efforts.

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