You should be using the GridHyperlinkCollection.Add method with latest API set in order to inject a hyperlink to a cell. Please check the following piece of code for your reference.
C#
var sheet = this.GridWeb1.WorkSheets[this.GridWeb1.ActiveSheetIndex]; sheet.Hyperlinks.Add(“A1”, “http://www.google.com”);
Please note that the GridHyperlinkCollection.Add method returns the index of the newly added Hyperlink. You can use this index to get the instance of newly added Hyperlink and manipulate the properties such as ScreenTip, TextToDisplay, Command and so on.