EventX Raises $10m with HTC for Virtual Event Push

The Asian Virtual Events Giant Aims to Boost Its Visibility In the Market with New Funding

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Published: July 22, 2021

Demond Cureton

Virtual event management firm EventX has raised $10 million USD in Series B funding with Taiwanese tech giant HTC and Chinese private equity fund Gaocheng Capital, it was announced on Thursday.

Gaocheng Capital focuses on the enterprise software and tech services markets, and EventX, an Asian-based company, supports virtual events in mainland China, both domestically and abroad, and has worked with major market leaders as Informa, Alibaba, Reed Exhibition, PwC, Yahoo, and many others.

But HTC VIVE’s gains in the VR headset and solutions market are being expanded in the virtual event space with the recent fundraiser and partnership.

The news comes just a year after massive growth at the virtual events company, who reported over 800 percent year-on-year growth via 5 million attendees across more than 20,000 events.

EventX’s partnership with HTC VIVE will allow it to adopt VR technologies for its online platform, and the company will launch a lite version for non-government organisations (NGOs), small and medium enterprises (SMEs), and others.

Joseph Lin, President of VIVEPORT, said in a statement:

“The strategic alliance with EventX illustrates HTC VIVE’s continuous efforts in providing people and enterprises with the tools to meet, socialize 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”

Sum Wong, EventX Co-Founder and Chief Executive, said virtual workspaces and events would become the “new norm”, adding the collaboration would allow a “deep level of integration” between HTC VIVE’s work in VR as well as bring virtual and hybrid events to “a brand new level of immersion”.

Metaverse-as-a-Service

The news comes amid several key developments in the virtual events sector, namely after Finnish MR firm Varjo launched its Reality Cloud service, funded by $100 million in capital from investors.

Varjo’s solution creates digital twins of personal spaces with Lidar scanners included in its XR-3 headset, allowing people to interact in the 3D renders and ‘virtually teleport’ to contacts.

Virtual spaces firms such as UpWorlds and Virtway have also been showcasing their virtual event platforms, which feature fully-immersive 3D environments and tools to collaborate in the metaverse.

 

 

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