Eloelo Raises USD 13.5 Mn Series B Led by Play Ventures to Scale Live Social Entertainment Platform With this round, Eloelo has now raised over USD 50 million in funding to date.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Eloelo, a leading multilingual live social entertainment platform, has raised INR 114.3 crore (USD 13.5 million) in its Series B funding round. The round was led by Singapore-based Play Ventures and saw participation from existing investors including Kalaari Capital, MIXI Investments, Gameskraft Technologies, Griffin Gaming Partners, Waterbridge Ventures, Courtside Ventures, and Rocket Capital.
The fresh capital will be deployed towards accelerating Eloelo's international expansion in Indian diaspora markets, enhancing its generative AI capabilities, and pushing towards a USD 60 million annual revenue run rate by the end of 2025. With this round, Eloelo has now raised over USD 50 million in funding to date.
"Eloelo is bringing the 'Social' back in consumer social platforms at a time when most are built for passive content viewing," said Saurabh Pandey, Co-founder and CEO of Eloelo. "We're solving the core human need for belonging by connecting Indians across eight languages through interactive livestreams, games, chat, and virtual gifting. With close to 400 million aspirational middle India consumers, we see a massive underserved market that demands India-first solutions."
Founded in July 2020 by Saurabh Pandey and Akshay Kumar Dubey, Eloelo combines live video and audio streams with real-time games, chat features, and creator tools to build community and engagement. The platform is available in eight Indian languages and has built a creator network of over 150,000, serving a user base of 90 million.
Eloelo's unique positioning lies in being an ad-free, subscription-free platform that generates revenue through micro-payments and virtual gifting, enabling over 20,000 creators to earn a livelihood. Since switching on monetization in May 2024, the platform has reached a USD 23 million ARR with 1.5 million paying users.
"Next-generation social platforms built natively for mobile-first and video-first communities remain a massively untapped opportunity," said Anton Backman, Partner at Play Ventures. "Eloelo is pioneering a new category of interactive social entertainment that blends live streaming, gamification, and cultural expression in a scalable way."
Eloelo aims to become the 'Digital Third Place for Bharat', a space where users can interact, engage, and express in local languages. With its innovative approach to creator monetisation and its deep focus on localized experiences, the platform is poised to redefine social entertainment for the next generation of Indian digital natives.
