Hong Kong’s offline and digital occasions platform EventX closes $18M Collection B – TechCrunch


As nations ease up on COVID restrictions, actions are going again in particular person. However the digital occasion house continues to draw traders, at the very least in Asia. Hong Kong-based occasions administration platform EventX stated at the moment it has raised one other $8 million for its Collection B, lifting the whole quantity secured for this spherical to $18 million.

The brand new injection was led by GL Ventures, the early-stage funding arm of Hillhouse Capital. Earlier traders embrace Gaocheng Capital, an funding agency based by a former Hillhouse associate, and HTC, the Taiwanese electronics big that has pushed into digital actuality lately. EventX declined to reveal its post-money valuation.

The Collection B got here eight years after EventX was based, an unusually affected person fundraising tempo in comparison with many cash-burning web companies throughout the border in mainland China. The corporate began out by managing real-life occasions, from supporting user registration to helping attendees exchange virtual business cards. When COVID-19 hit in 2020, it noticed a chance to go digital, so it developed a brand new service akin to Hopin, supporting reside occasions like webinars and digital exhibitions. Right now, the platform additionally has a lead era perform, serving to organizers develop new purchasers and companions by occasions.

Because of pandemic management on in-person occasions, Hopin turned one of the fastest-growing companies in current reminiscence. However information got here final week that the London-based startup had laid off 12% of its staff because it realized post-COVID demand for digital occasions would gradual. The pandemic was additionally a boon to EventX; its on-line attendees within the fourth quarter of 2021 grew by 120%. And even when reside occasions resume their normalcy, the corporate believes it might cling onto its long-running offline enterprise.

To this point, the corporate has helped set up occasions in over 100 cities, principally throughout Asia, and its platform has served greater than 5 million attendees. Its group of 100 is unfold throughout Hong Kong, Singapore, Japan, South Korea and Taiwan.

The startup plans to spend its new proceeds on potential acquisitions, product improvement, recruitment and growth in Asia, significantly Taiwan and Southeast Asia. It additionally has ambitions to convey VR options into its occasion expertise by teaming up with its investor HTC.


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