Hong Kong – Realizing the greater need for virtual event management platforms in the Asia-Pacific region, virtual event platform EventX has announced an alliance with virtual reality (VR) company HTC VIVE, following its conclusion of a US$10m funding from its series B funding.
Aside from the funding being led by HTC VIVE, the funding also saw participation from Gaocheng Capital, a top China-based private equity fund focused on enterprise software and technology-enabled services sectors.
EventX’s virtual event management platform has been well-used in the region, especially for events that involve Mainland China attendees where its unique design architecture overcomes internet firewalls to enable the service of any cross-region events. Meanwhile, HTC VIVE has gained great attention and acclaim for its strides in VR research and development. By combining the knowledge pools of the two respected digital trailblazers, a range of unique experiences is set to be developed through this strategic alliance.
A major player for the rise of these virtual event management platforms can be attributed to the COVID-19 health pandemic, which has drastically curtailed travel and how people spend time in crowded places, decimating the wider event industry, estimated to be worth more than US$1t annually before the pandemic.
COVID-19 has permanently transformed the professional events category and in turn raised attention to venture capitalists to pour in massive capital to the virtual event software space.
Speaking about the partnership, Sum Wong, co-founder and CEO at EventX, said, “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. To take the responsibility as one of the event industry leaders, EventX will keep exploring new possibilities of event technology, popularizing the application, and creating users’ needs.”
EventX is going to invest heavily in products and engineering for leading the recovery of the events industry during the current pandemic, which will not only stabilize and solidify existing virtual event services but carve out new spaces and opportunities for the marketing and event industry.
Meanwhile, Joseph Lin, president of VIVEPORT said, “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, 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.”
With their unique China accessible ability and together with HTC VIVE, they will be adopting VR and prospecting technology into the core capabilities of the event software-as-a-service (SaaS) product to make it accessible and reinvent the virtual event experience. For the first attempt to add VR and prospecting technology into core capabilities, they would be releasing a virtual event lite platform and open it for segments such as NGOs, SMEs and startups to register and organize virtual events for free.