DG Daiwa Ventures participated in a $35M Series B funding round for Airmeet, joining forces with Sequoia Capital India and Accel India to enhance the platform's innovative virtual event solutions.

Overview of Airmeet

Airmeet Inc., headquartered in the United States with a primary base in India, was founded in 2019 by seasoned entrepreneurs Lalit Mangal, Manoj Singh, and Vinay Kumar Jaasti. The platform specializes in enabling organizations to host virtual events through a comprehensive conference platform that incorporates functionalities such as backstage preparation, breakout rooms, and networking sessions. By mimicking the characteristics of offline events, Airmeet provides an enriching experience to audiences worldwide.

With an impressive client roster that includes notable names like Flipkart, Fifth Element Group, BMF Media, and the University of Minnesota, Airmeet has garnered over 5,500 clients. The company's remarkable product quality has led to a 24-fold increase in recurring revenue since its previous Series A funding round, demonstrating its rapid growth in the virtual events sector. In Japan, the company is represented by iPresence LLC, which handles local sales.

Industry Overview in India

The virtual events industry in India has witnessed explosive growth in recent years, driven by the necessity of remote engagement due to the global pandemic. As organizations adapted to changing circumstances, the deman