Airmeet, a platform for virtual events, has raised US$12
million in Series A funding, the company announced Tuesday. This brings the
company's total funds raised to $15 million since it launched in August 2019.
Sequoia Capital India led the round, joined by Redpoint
Ventures and returning investors Accel India, Venture Highway and Global
Founders Capital.
With many in-person events pivoting to virtual amid the
Covid-19 pandemic, Airmeet said in a statement that it has seen significant
growth the past quarter, and by July had hosted more than 10,000 events on its
platform.
Networking is a key goal, with Airmeet "hyper-focused
on 'interaction liquidity' and helping participants build authentic connections",
the company said. Some of the platform's offerings include a social lounge,
with tables for meet-ups and a lobby for "speed networking" where
participants can meet and make connections in one to five-minute increments.
The solution also provides registration management, payment solutions and
analytics.
The platform, which is still in beta, was built for virtual
connections and events, not necessarily for virtual meetings, Airmeet
co-founder Lalit Mangal told BTN. "Events is a new category in
itself," he added. "The focus is on being accessible to all segments
of customers, not just enterprise."
He added that Airmeet's target audiences are enterprises,
for connecting customers; communities, like those of marketers or web
developers; venture capital incubators and accelerators; and universities and
campuses.
The company plans to use its investment funds to accelerate
technology development, build new event templates, grow its team of 60
employees in six countries to 100, and expand its customer base globally,
particularly in the US, Mangal said. Airmeet also has a goal of powering 1,000
events per day on its platform. Customers have included Microsoft for Startups,
the Linux Foundation and educational institutions.