In a move to further strengthen its digital presence, Asia-based virtual event management company EventX has forged a partnership with HTC VIVE and raised US$10 million in series B funding co-led by HTC and China-based private equity fund Gaocheng Capital.
As Asia’s dominant virtual event platform, EventX is on a lifelong pursuit to find flexible and innovative solutions for the market. With an advanced VR research and development portfolio, HTC VIVE is expected to boost EventX’s role in the region, especially within Greater China. Past years’ positive figures are testament of EventX’s success. The company witnessed a year-on-year growth of over 800% and hosted more than 20,000 online events, drawing over five million attendees. With ongoing travel restrictions due to the COVID-19 pandemic, demand for virtual solutions has witnessed a dramatic increase. With more actors entering the market, staying ahead of the trends is more important than ever.
The strategic partnership is expected to benefits both sides, notwithstanding Gaocheng Capital’s role in setting the tone and encouraging more investors to consider virtual event solutions. As virtual events have become part and parcel of the new working norm, cross sector collaboration is crucial. This new alliance will serve as a knowledge exchange platform, blending the two pioneers’ expertise and building better solutions for communities.
Through their combined expertise, HTC VIVE and EventX hope to play a leading role in contributing to the event industry’s recovery through the release of new virtual event lite platforms that will allow NGOs, SMEs and startups to make use of their virtual event tools at no cost.