Airmeet bags $12 Mn in Series A funding round led by Sequoia India and Redpoint Ventures
By MYBRANDBOOK
Home-grown virtual event organisation startup, Airmeet has raised $12 million in its Series A funding round led by Sequoia Capital India and Redpoint Ventures. Early backers Accel India, Venture Highway, Global Founders Capital and Gokul Rajaram also participated in the round.
Last year, Airmeet had raised $400,000 in a seed round and closed a follow-on seed round of $3 million from Accel and others. With its Series A round, the Bengaluru-based startup has plans to accelerate technology development, grow the team size to 100 from 60 and expand its customer base globally.
“Our mission is to make virtual events so effective and engaging that it should appear archaic to organise an on-ground event. We are already seeing an irreversible behaviour change among event organisers and an exponential rise in, what we call, ‘Digitally native events,” said Lalit Mangal, co-founder, Airmeet in a press statement.
Floated by Mangal, Manoj Singh and Vinay Jaasti, Airmeet helps organize meetups, company events and workshops. The startup came as an alternative to global company Zoom and got momentum during Covid19-lockdown and its aftermath as various brands and event programmers shifted to online platforms to expand their reach virtually.
In its first year of operations, the company has empowered event organizers to run a wide variety of events and meetups from trade shows, job fairs, and virtual team cafes to virtual conventions and technical industry summits on its platform. Globally, it has powered virtual events for professional communities like Microsoft for Startups, the Linux Foundation, and Florida International University.
The firm claims to have grown nearly 2000% over the last quarter and hosted over 10,000 events on its platform between November 2019 and July 2020. Airmeet aims to power more than 1000 events per day on its platform that expands beyond traditional virtual event formats by offering multiple new and innovative event templates.
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