Hong Kong-based virtual events platform, EventX has raised another US$8m (£5.8m) in a Series B funding, lifting the total amount secured for this round to $18m (£13.2m).
The new injection was led by GL Ventures, the early-stage investment arm of Hillhouse Capital. Previous investors include Gaocheng Capital, an investment firm founded by a former Hillhouse partner, and HTC, the Taiwanese electronics giant that has pushed into virtual reality in recent years.
EventX was founded in 2014 and began life as an in-person event technology company, supporting planners through customer relationship management, event analytics and helping delegates to exchange virtual business cards.
By switching its business model to hybrid and virtual events in 2020, EventX has helped stage meetings and conferences in more than 100 cities across Asia and has served more than five million attendees through its platform. The company’s event attendees grew by 120% in the fourth quarter of 2021.
EventX is spearheaded by CEO Sum Wong (pictured). He plans to spend the new investment on acquisitions, product development, recruitment and expansion, particularly into Taiwan and Southeast Asia. He also reportedly has ambitions to bring VR solutions into the event experience by teaming up with investor HTC.
“Enterprises are already evolving themselves into the digital world and looking for a platform to create an innovative and targeted event for their audience and to generate leads,” Wong said.
