- Eloelo has raised ₹114 crore (nearly $13.7 million) in its recent funding, supported by current as well as new investors, demonstrating robust investor faith in the platform’s development path.
- The capital will go towards building Eloelo’s offerings in India’s fast developing social gaming and live entertainment category by scaling its user base, creator tools, and engagement depth.
- With the new capital, Eloelo intends to invest in cutting edge gamification features, AI based content discovery, and creator monetization channels, solidifying its competitive edge in the emerging creator economy.
The Plan To Be A Part Of Gaming World
Eloelo, a Bengaluru social gaming and live streaming startup, has raised Rs 114 crore (approximately $13 million) in a new Series B funding round, as the platform prepares to expand its footprint in India’s rapidly growing digital entertainment market.
The new tranche was taken by Play Ventures Investments, with gaming giant Gameskraft Technologies, Kalaari Capital, WestBridge Capital, and a group of institutional and individual investors following suit, filings with the Registrar of Companies showed. Play Ventures came in as the lead investor, pumping in close to Rs 34 crore, followed by Gameskraft with Rs 21.7 crore. Kalaari and WestBridge brought in Rs 13 crore and Rs 8.7 crore, respectively. Countryside Ventures, Rocket Capital, MIXI Global, and angel investors Veenita and Vinay Mittal are other investors.
Eloelo, which was co founded by Saurabh Pandey and Akshay Dubey, mixes interactive gaming with creator driven live content, giving a distinctive blend of entertainment suitable for Gen Z viewers. Through this latest funding round, the startup has collectively raised more than $50 million in funding so far, with a $22 million pre Series B round that was earlier led by Courtside Ventures and Griffin Gaming Partners.
Aim Of Eloelo
The funding comes at a time when India’s social entertainment landscape is witnessing a rapid convergence of gaming, streaming, and community interaction. Eloelo competes with platforms like Loco, Rooter, and Turnip in the gaming space, while also going up against content-centric apps like Chingari, ShareChat, and Bolo Live, which are increasingly incorporating casual games and live engagement tools.
As India’s creator economy continues to boom, Eloelo aims to cement its position as a key player in the space
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