Eloelo raises Rs 114 crore in funding
Eloelo, a fast-growing live social entertainment platform centered on interactive livestreams and real-time community interaction, has raised ₹114.3 crore (or around $13.5 million) in a Series B round led by Singapore-headquartered Play Ventures.
This funding round also saw participation from existing investors like Kalaari Capital, MIXI Investments, Gameskraft Technologies, Griffin Gaming Partners, Waterbridge Ventures, Courtside Ventures, and Rocket Capital.
With this recent funding, the Bengaluru-based company has so far raised more than $50 million and will aim to go big in diaspora markets targeting the Indian expatriate population, grow its creator-focused AI-driven tools, and reach a yearly revenue run rate (ARR) of $60 million by 2025.
Eloelo was launched in July 2020 by Saurabh Pandey and Akshay Kumar Dubey, and it mixes live audio and video streaming with gamified elements, chat rooms, creator tools, and virtual gifting. This monetization strategy has enabled over 20,000 creators to earn on the platform. Eloelo has the unique advantage of running ad-free and subscription-free, and it makes revenue only from micropayments and digital gifting.
Saurabh Pandey, CEO and Co-founder, said, "Eloelo is bringing back the 'Social' dimension to consumer social platforms when others are being created for passive content viewing. We are fulfilling the basic human requirement of belongingness by linking Indians in eight languages through engaging live streams, gaming, chat, and virtual gifting. With almost 400 million aspirational middle-class shoppers in India, we believe we have a massive underserved opportunity that needs India-specific solutions."
Since launching monetization in May 2024, Eloelo has reportedly established a $23 million ARR with 1.5 million paying users, marking its early triumph in a market that is increasingly converging content, commerce, and community. The product today is available in eight Indian languages and has a network of more than 150,000 creators, catering to 90 million users.
Anton Backman, Partner at Play Ventures, said, "Next-generation social platforms built for mobile-first and video-first communities are a huge untapped opportunity. Eloelo is pioneering a new category of interactive social entertainment that blends live streaming, gamification, and cultural expression in a scalable way."
The startup hopes to become the "Digital Third Place for Bharat," a digital space for interaction, entertainment, and self-expression.
This funding round also saw participation from existing investors like Kalaari Capital, MIXI Investments, Gameskraft Technologies, Griffin Gaming Partners, Waterbridge Ventures, Courtside Ventures, and Rocket Capital.
With this recent funding, the Bengaluru-based company has so far raised more than $50 million and will aim to go big in diaspora markets targeting the Indian expatriate population, grow its creator-focused AI-driven tools, and reach a yearly revenue run rate (ARR) of $60 million by 2025.
Eloelo was launched in July 2020 by Saurabh Pandey and Akshay Kumar Dubey, and it mixes live audio and video streaming with gamified elements, chat rooms, creator tools, and virtual gifting. This monetization strategy has enabled over 20,000 creators to earn on the platform. Eloelo has the unique advantage of running ad-free and subscription-free, and it makes revenue only from micropayments and digital gifting.
Saurabh Pandey, CEO and Co-founder, said, "Eloelo is bringing back the 'Social' dimension to consumer social platforms when others are being created for passive content viewing. We are fulfilling the basic human requirement of belongingness by linking Indians in eight languages through engaging live streams, gaming, chat, and virtual gifting. With almost 400 million aspirational middle-class shoppers in India, we believe we have a massive underserved opportunity that needs India-specific solutions."
Since launching monetization in May 2024, Eloelo has reportedly established a $23 million ARR with 1.5 million paying users, marking its early triumph in a market that is increasingly converging content, commerce, and community. The product today is available in eight Indian languages and has a network of more than 150,000 creators, catering to 90 million users.
Anton Backman, Partner at Play Ventures, said, "Next-generation social platforms built for mobile-first and video-first communities are a huge untapped opportunity. Eloelo is pioneering a new category of interactive social entertainment that blends live streaming, gamification, and cultural expression in a scalable way."
The startup hopes to become the "Digital Third Place for Bharat," a digital space for interaction, entertainment, and self-expression.
