Funding News: Eloelo Raises Rs 114 Crore in Funding

Startup: Eloelo

Founder: Saurabh Pandey

About us: Eloelo is redefining how users and creators interact, engage, and connect! As a new-age Live Media & Entertainment platform, we seamlessly blend interactive live streams, games, chats, and creator tools to create a vibrant, engaging experience.

Founded Year: 2020

Office: Bengaluru, Karnataka

Sector: Technology, Information and Internet

Funding Round: Series B

Investors: Play Ventures

Participating Investors: Kalaari Capital, MIXI Investments, Gameskraft Technologies, Griffin Gaming Partners, Waterbridge Ventures, Courtside Ventures, Rocket Capital

Eloelo, a fast-growing live social entertainment platform centered on interactive livestreams and real-time community interaction, has raised Rs 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.

Website: https://bit.ly/eloelochalo