Airmeet, whose software helps brands deliver virtual event experiences, has announced that it has raised $35 million in Series B funding. New investors Prosus Ventures, Sistema Asia Fund, RingCentral Ventures, KDDI Open Innovation Fund, DG Daiwa Ventures and Nexxus Global participated alongside existing investors Sequoia Capital India and Accel India in this round.

According to Crunchbase, Airmeet has now raised $50 million. It had a $15 million Series A investment in September of 2020, and it's capitalized on the growing need for businesses to conduct virtual and hybrid events since the spring of 2020 due to COVID-19. Airmeet has enabled more than 120,000+ event organizers to stream 150 million minutes of video airtime globally, according to company officials.

Airmeet offers a platform that features AI-driven smart speed networking technology available in the immersive event space. The company with the new funds will expand its footprints in the global marketplace, with plans to invest heavily in R&D and will scale its GTM function. The team will also be focusing on strategic activities that will bring more visibility to the brand and its offerings in the international market.

"Customer engagement has been fast evolving into a space that needs to go beyond the traditional channels," Lalit Mangal, co-founder of Airmeet, said in a press release. "Brands have to start conversations and engage with customers without losing their human touch in the virtual space. Our mission has always been to focus on engagement and assist businesses with scaling their customer engagement through multiple interactive event formats."

Learning Opportunities

Airmeet’s immersive engagement suite helps communities and brands to connect with their audiences and engage in feedback through events. Marketers, community managers, sales executives and customer relationship teams use Airmeet’s 360-degree attendee engagement suite to dive into audience needs and update their customer engagement strategy. Airmeet offers "Conferences" and "Social Webinars."

Ashutosh Sharma, head of investments for India for investor Prosus Ventures, said the pandemic has brought in a marked shift in the way organizations work  interact with customers, employees and other stakeholders.

"This shift has further accelerated the adoption of agile and virtual solutions to cater to business needs," Sharma said in a press release. "We are excited to partner with Airmeet as they support the transformation and evolution of the enterprise SaaS marketing space and deliver an outstanding audience experience through a uniquely customer-centric approach.”

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