Bangalore-based virtual events platform Airmeet raises $12m for expansion

Bangalore-based Airmeet, virtual event platform developer, has announced it has raised US$12m in Series A funding for international expansion. New investor Sequoia Capital India led the round joined by Redpoint Ventures, with participation from returning investors Accel India, Venture Highway and Global Founders Capital (GFC). Airmeet has grown rapidly since it was founded in 2019 and, by July 2020, had hosted 10,000+ events on its platform. The new target is to power 1,000+ events per day on a platform that Airmeet claims to be able to power virtual events ranging from a professional meet up to a large film festival. The Airmeet platform’s key experiences include a ballroom-style Social Lounge with freely accessible virtual tables for serendipitous encounters and a speed networking lobby where participants can spontaneously meet in rapid, one-to-five-minute increments. Airmeet has ambitious plans to accelerate technology development, grow the team of 60 (across six countries) to 100, and expand its customer base globally. So far the platform has powered virtual events for professional communities like Microsoft for Startups, the Linux Foundation, and Florida International University. “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. “Covid-19 has accelerated a permanent behavioural shift across many industries. With digitisation of largely traditional spaces leapfrogging by years, the $800bn global offline events space is up for grabs. There is massive potential for players who drive the industry’s transition towards online-events,” said Abhishek Mohan, VP, Sequoia Capital India LLP.