Egyptian startup Eventtus secures investment for its digital platform.
Egyptian startup Eventtus has secured an investment round to furnish its digital events platform.
The startup secured an undisclosed investment from Hala Ventures, Algebra Ventures, and DAAL VC.
The launch of the digital events follows the effect of the COVID-19 pandemic on the events industry.
Events is a platform for events ticketing, event management and apps for events that provides business intelligence reports for organizers to engage with their attendees and recommend solutions for improvement.
Ever since COVID 19 hit the surface of the world, social distancing is being practiced which includes avoidance of face-to-face meetings, crowded places and getting into close contact when people.
Co-founder of Eventtus, Mai Medhat said in a blog post, “When events were canceled and postponed due to the COVID-19 outbreak, and event planners started being concerned about the industry, we took the responsibility to do our thorough research and come up with a new, exclusive product that facilitates and evolves the future of events”.
“We realized that while people are resorting to live streaming on different platforms such as Facebook and Zoom to host sessions and webinars, event planners and attendees will still need the other essential components of an event experience that a simple live video does not completely fulfill. New types and formats of events will emerge to meet the different needs. Our research and development led us to reimagine the whole event experience and aim to revamp the whole industry” Medhat said.
Medhat also revealed in an interview with Megabytes that “The app will be able to support hybrid events: ones that excitedly merge between on-ground and live; so that organizers and attendees of all backgrounds can have the most engaging event experience.”
According to Medhat, the startup will use the fund for development and additional innovation to sustain the industry.
Speaking on the investment, Ali Abussard, Founder and Managing Partner of Hala Ventures said, “During crises, there are companies who blame the market for their failures and those who use the market’s failure to make their success. We believe that Eventtus belongs to the latter and thus we decided to invest in them during such a critical crisis”.
Also, General Partner at Algebra Ventures Ziad Mokhtar said, “What Eventtus has built over the last few years provides a solid foundation that will allow them to reinvent conferences and exhibitions. The team’s track record of creating innovative experiences makes us confident they can succeed in this too”.
Eventtus was founded in 2012 by Mai Medhat and Nihal Fares in Cairo.