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Home Business Business News Airmeet Secures 12 Million USD in Series A Fundraise

Airmeet Secures 12 Million USD in Series A Fundraise

Airmeet, a Bengaluru-based virtual events startup, has secured 12 million USD in Series A fundraise. The latest funding round was led by Sequoia Capital India and Redpoint Ventures. The allocations will accelerate its plan of global expansion.

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Airmeet
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Airmeet (1), a virtual event organization platform, has recently secured 12 million USD in its Series A funding round. The Sequoia Capital India and Redpoint Ventures led the latest fundraise. Its existing investors, including Accel Partners India, Global Founders Capital, Gokul Rajaram, Caviar Lead of Doordash, and Venture Highway, also participated. 

The team is planning to utilize the latest infusions to accelerate its audience across the globe. The mission of Airmeet is to make compelling and engaging virtual events. It would make the events on-ground to appear antiquated. The world has started to witness an irreversible change in the event organizers’ behaviors. There is also an exponential acceleration in digitally native events, asserted by Lalit Mangal, Co-founder of Airmeet, in a press statement. 

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As per the startup’s claim, the platform is observing a nearly 2000% growth in the last quarter. The team adds that the transition is entirely organic, with the platform gaining one new customer every hour. It has hosted over 10,000 events by July 2020 on its portal. It aims to power over 1,000 events each day. 

 

Airmeet to Have Huge Potential As the World is Under Digital Transition

Abhishek Mohan, VP, Sequoia Capital India, stated that the pandemic had accelerated a permanent behavior transition across several industries. Many traditional spaces are now shifting towards digitization.

Airmeet has considerable potential as a player driving the initiatives towards online events. The startup aims to create a global platform that will enable millions of community managers and organizers to engage and expand their customer base. 

The startup has organized several events, including meetups, virtual team cafes, job fairs, resource fairs, and conventions. Airmeet is founded by Lalit, co-founder of CommonFloor, and other ex CommonFloor executives Manoj Singh and Vinay Jaasti.

It aims to accelerate its technology developments and hire new talent. It has successfully powered virtual events for major educational institutes like Florida International University and professional communities, including Microsoft and Linux Foundation. 

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Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She's currently working as a content writer and is always interested in a challenge.

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