EventX, an Asia-based virtual event management company, has closed a US$10 million series B funding co-led by HTC, a virtual reality (VR) leading company, and Gaocheng Capital, a top China-based private equity fund focused on enterprise software and technology-enabled services sectors.
EventX’s capabilities include support for events that involve Mainland China attendees where its unique design architecture overcomes internet firewalls to enable the service of any cross-region events.
EventX has company contracts with hundreds of the world’s biggest events industry players and brands including Alibaba, PwC, GL Events, Informa, Reed Exhibition, Yahoo, government departments, and universities. Its year-on-year growth stands at over 800 per cent, and has served over five million satisfied attendees in over 20,000 online, hybrid and offline events.
EventX has also agreed to a strategic partnership with HTC VIVE, a company that has made great strides in its VR research and development.
Through the alliance, both companies will be working together to reinvent the virtual event experience with the help of VR, as well as integrate technology into core capabilities. The partnership will soon release a virtual event lite platform and opening it to NGOs, SMEs and startups to register and organise virtual events for free.
Joseph Lin, president of VIVEPORT said in a statement: “VR has the power to improve the world. At HTC VIVE we strive to create the tools to expedite VR adoption — using not only our VR devices but also computers, tablets, and smartphones — and interact effectively. The strategic alliance with EventX illustrates HTC VIVE’s continuous efforts in providing people and enterprises with the tools to meet, socialise, and learn in VR and beyond. Massive possibilities and enthusiasm can be seen in this partnership to bring people closer together without any geographical boundaries.”
“It is certain that virtual workspaces and virtual events will become the new norm. The creation of this alliance will result in a deep level of integration between our own expertise and HTC VIVE’s groundbreaking work in the VR space. This collaboration will result in EventX bringing virtual and hybrid event experiences to a brand new level of immersion and interactivity,” EventX co-founder and CEO Sum Wong added.
EventX also plans to invest heavily in products and engineering for leading the recovery of the events industry during the current pandemic, which will not only stabilise and solidify existing virtual event services but carve out new spaces and opportunities for the marketing and event industry.