Airmeet raises USD 12 mn series A fund led by Sequoia Capital, Redpoint

Online video conference company Airmeet has raised USD 12 million (about Rs 88 crore) in series A funding round led by Sequoia Capital India and Redpoint Ventures, a statement said on Tuesday. We are already seeing an irreversible behaviour change among event organisers and an exponential rise in, what we call, 'Digitally native events," Airmeet co-founder Lalit Mangal said in the statement.

Online video conference company Airmeet has raised USD 12 million (about Rs 88 crore) in series A funding round led by Sequoia Capital India and Redpoint Ventures, a statement said on Tuesday. Accel India, Venture Highway and Global Founders Capital (GFC) and Doordash's Gokul Rajaram also participated in the round. The company plans to use the funds for product development and expansion in overseas markets. "Our mission is to make virtual events so effective and engaging that it should appear archaic to organise an on-ground event. We are already seeing an irreversible behaviour change among event organisers and an exponential rise in, what we call, 'Digitally native events," Airmeet co-founder Lalit Mangal said in the statement. Founded in 2019, Airmeet claims to have grown nearly 2000 per cent organically in terms of events hosted on its platform over the last quarter through word of mouth and social media. The company has hosted over 10,000 events on its platform. "In the coming year, the company aims to achieve the milestone of powering over 1,000 events per day on its platform," the statement said

Airmeet has plans to accelerate technology development, grow the team of 60 to 100 across six countries

"With digitization of largely traditional spaces leapfrogging by years, the over USD 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," Sequoia Capital India VP Abhishek Mohan said.