Hong Kong’s Offline And Virtual Events Platform Eventx Closes $18M Series B

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The company started out by managing real-life events, from supporting user registration to helping attendees exchange virtual business cards. Today, the platform also has a lead generation function, helping organizers develop new clients and partners through events. But news came last week that the London-based startup had laid off 12% of its staff as it realized post-COVID demand for virtual events would slow. And even if live events resume their normalcy, the company believes it can cling onto its long-running offline business. So far, the company has helped organize events in over 100 cities, mostly across Asia, and its platform has served more than five million attendees. The startup plans to spend its new proceeds on potential acquisitions, product development, recruitment and expansion in Asia, particularly Taiwan and Southeast Asia. Hong Kong-based events management platform EventX said today it has raised another $8 million for its Series B, lifting the total amount secured for this round to $18 million. The Series B came eight years after EventX was founded, an unusually patient fundraising pace compared to many cash-burning internet firms across the border in mainland China.