InvestorQ : Why has start-up, Airmeet, been recently raising funds for?
Sam Eswaran made post

Why has start-up, Airmeet, been recently raising funds for?

Moii Chavate answered.
2 years ago

Airmeet, a virtual events platform, raised $12 million in a Series-A round of funding. This round was led by Sequoia Capital Redpoint Ventures. AIrmeet already has marquee investors like Accel India and Venture Highway on its investor roster.

Airmeet has been a big beneficiary of the pandemic as the pandemic has put severe curbs on business travel. Companies are cutting travel for safety and also for cost reduction. This has largely made video calls and online interactions the new paradigm and Airmeet stands to benefit the most.

Airmeet is apparently gaining one new customer per hour it had already hosted over 10,000 events on its platform as of July 2020. Airmeet sees an irreversible behaviour change among event organisers and an exponential rise in digital events.

Airmeet proposes to use the funds to expand its staff strength from 60 to 100 over the next few quarters. It will also use the funds to invest in technology and expand its customer base globally. According to Airmeet, nearly $800 billion of offline events are up for grabs.