Virtual Reality (VR) refers to the exploration of the real-world boundaries in 360 \(^\circ \) C, where users can immerse themselves in a stimulated environment at real time. VR in teleconferencing pertains to a virtual space where users can attend meetings while being subjected to an immersive, emerging and collaborative environment identical to the offline meeting board rooms. The existing VR-based teleconferencing systems encompass the issue of scalability, latency and virtual fidelity as some of its challenges. To address these challenges, we present Advanced Virtual Environment for Networking and Collaboration (AVENT), a VR based teleconferencing application. We address the challenges of the existing modes of attending teleconferences by enabling individuals and teams to connect effortlessly, transcending physical limitations. This study explores the potential of VR in remote collaboration and highlights limitations of existing VR conferencing apps by increasing participant scalability to ten. It redefines how individuals and teams interact by integrating technology in a seamless manner and creating an immersive experience. Besides comprehending a sufficient scalability as compared to existing applications, AVENT comprises a real-time 3D notepad allowing users to store and retrieve summarized information from the meetings for later use.