Airmeet scoops up $35 Mn in Series B round

Virtual events organisation startup Airmeet has raised $35 million in its Series B round led by Prosus Ventures, Sistema Asia Fund, RingCentral Ventures, KDDI Open Innovation Fund, DG Daiwa Ventures, and Nexxus Global.

Existing backers Sequoia Capital India and Accel India also participated in the funding round.

Entrackr had exclusively reported about this development in November, 2021.

According to the Bengaluru-based startup, the fresh proceeds will be used to invest in research and development and scaling its go-to-market function.

Founded by Lalit Mangal, Manoj Singh and Vinay Jaasti, Airmeet came as an alternative to Zoom during the first wave of the coronavirus pandemic. The platform helps organize meetups, events, workshops and is built specifically for events with a backstage, stage and a social lounge.

The startup claims to have enabled more than 120,000 event organisations to stream 150 million minutes of video airtime across the world.

The pandemic had a severe impact on the majority of startups but it helped some companies grow. One such firm is Airmeet that has managed to scale at a fast clip in FY21. Its revenue took a leap in FY21 to Rs 40 crore as compared to Rs 1.9 crore in FY20, per the company’s annual financial statement.