Airmeet raises $12 million in Series A led by Sequoia Capital India, Redpoint Ventures

Our Bureau Mumbai | Updated on September 15, 2020 Published on September 15, 2020

Virtual events platform will use the funds to accelerate technology development, grow team, expand customer base globally

Virtual events platform Airmeet has raised ₹88 crore ($12 million) in a Series A round led by new investors Sequoia Capital India and Redpoint Ventures. The round also saw participation from returning investors Accel India, Venture Highway and Global Founders Capital.

Gokul Rajaram, Caviar Lead at DoorDash (an American on-demand prepared food delivery service), also participated in the round, the company said in a statement.

Airmeet will use the funds to accelerate technology development, grow the team of 60 personnel across six countries to 100, and expand its customer base globally.

“We would be utilising the funds for three key functions. The first being product and technology development, which will focus on improving our core technology and the product to make it more intuitive and modular,” said Lalit Mangal, co-founder, Airmeet.

“The second would be towards accelerating growth and marketing with dedicated investments in marketing to grow in the US, Asia Pacific, Africa and Latin America. The third area would be hiring — as a fully remote team, we aim to build a global, talented team of 100 people,” he added.

The company, which has hosted more than 10,000 events on its platform as of July 2020, aims to host over 1,000 events per day in the next calendar year.

“Covid-19 has accelerated a permanent behavioural shift across many industries. With digitisation of largely traditional spaces leapfrogging by years, the $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,” said Abhishek Mohan, Vice-President, Sequoia Capital India.

Airmeet was founded in 2019 by IIT alumni and ex-CommonFloor executives Mangal, Manoj Kumar Singh and Vinay Kumar Jasti.

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Published on September 15, 2020
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