Virtual event planning platform Airmeet has raised $12 million Series A funding led by Sequoia Capital India and Redpoint Ventures. Also taking part in the round were established investors: Accel Partners India, Venture Highway, Global Founders Capital (GFC), and Gokul Rajaram (Caviar Lead at Doordash).
In the last quarter, the platform claims to have seen a nearly 2000 percent rise. The team adds this development was strictly organic, with one new customer every hour at the website. Airmeet is estimated to have organized more than 10,000 events on its website by July 2020.
Talking to Next Big Brand, Nishchal Dua, Director of Marketing, Airmeet said, ” We will use this funding for out product & tech development where we will improve our core technology & improve the product to make it more intuitive & modular and we will be using it for growth & marketing as we have so far grown completely through word of mouth, organically. We will now dedicatedly invest in marketing to grow in US, APAC, Africa & LatAm.
At last,we will focus on our team and it’s growth. We aim to build a global, talented team of 100 people (we’re currently 60).”
Now the company is planning to control over 1,000 events a day. Speaking of the investment, Abhishek Mohan, VP, Sequoia Capital India LLP, said, “Covid-19 has triggered a permanent change in behaviour across many sectors, and with the digitization of largely conventional spaces leapfrogging across the years, the $800 + billion of global space for offline events is up for grabs. There is massive potential for players who drive the industry’s transition towards online-events.”
“Airmeet’s aim is to create a global forum to allow millions of community managers and event organisers around the world to engage and grow their audience, and with the emphasis, execution, and creative thinking of Lalit and the team, they are well positioned to achieve their goal.” Currently, Airmeet has enabled event organisers to run a variety of activities, workshops, job fairs, virtual activities.
In a press release, Astasia Myers, Redpoint investor, said, “Airmeet ‘s platform produces engaging, immersive interactions that emphasise interactivity. Airmeet reflects the collective spirit of an in-person experience from virtual tables to networking lounges, to real-time audience reactions. We ‘re excited to be part of the journey and curious about what’s going to happen.
Established in 2019 by Lalit, CommonFloor’s co-founder, along with other former CommonFloor executives, Vinay Jaasti and Manoj Singh, Airmeet also aims to accelerate its platform’s software growth and increase the team from 60 to 100. For technical communities like Microsoft for Entrepreneurs, the Linux Foundation, and major educational institutions like Florida International University, it has successfully driven virtual events.