Airmeet, a Bengaluru-headquartered virtual events platform communicated that it has successfully raised US$12 million in a Series A round of financing in a press statement released dated September 16, 2020.
The round of financing was led by Sequoia Capital India and Redpoint Ventures. Other participating investors include existing Accel India, Venture Highway and Global Founders Capital. DoorDash executive Gokul Rajaram also patronized the round.
Airmeet plans to utilize the proceeds of the round towards developing its technology, growing its team and expanding to a global user base, it added.
Founded in 2019 by Lalit Mangal, Manoj Kumar Singh and Vinay Kumar Jasti, the startup offers a platform to host virtual events and operates across six countries.
“Our mission is to make virtual events so effective and engaging that it should appear archaic to organize an on-ground event. We are already seeing an irreversible behavior change among event organizers and an exponential rise in, what we call, ‘digitally native events’,” Co-founder of Airmeet Lalit Mangal said in the statement.
“Airmeet’s platform creates engaging digital experiences that emphasize interactivity. From the virtual tables to networking lounges to real-time audience reactions, Airmeet mirrors the community spirit of an in-person event,” Redpoint investor Astasia Myers noted in the statement.
“With digitization of largely traditional spaces leapfrogging by years, the $800+ billion global offline events space is up for grabs. There is massive potential for players who drive the industry’s transition towards online-events”, Mohan said in the statement.
“Airmeet’s mission is to create a global platform to enable millions of community managers and event organizers across the world to engage with and expand their audience. And with Lalit and team’s focus, execution and innovative thinking, they are strongly placed to achieve their goal,” Mohan added.