Social entertainment startup Eloelo raises $13.5 million from Play Ventures

Eloelo’s journey from India to global diaspora markets embodies the opportunity we’re bullish on at GIA.

What is the news?

Live social entertainment platform Eloelo has raised $13.5 million in Series B funding led by Play Ventures, with participation from Kalaari Capital, MIXI Investments, Gameskraft Technologies, Griffin Gaming Partners, Waterbridge Ventures, Courtside Ventures, and Rocket Capital.
The company plans to use this funding to deepen its AI-powered creator tools, expand into Indian diaspora markets, and scale its offerings further. This round brings Eloelo’s total funding to over $50 million.

Why is it interesting?

Founded in July 2020 by Saurabh Pandey, Eloelo has quickly established itself in India’s $25 billion media and entertainment market by building an ‘India-first’ solution for interactive social experiences. Operating in eight languages, the platform combines live streaming, gaming, and social engagement in a unique way.
With impressive traction- $23 million annual revenue run rate supported by 1.5 million paying users and 20,000 creators earning through the platform – Eloelo demonstrates how entrepreneurs can build significant value by deeply understanding local needs while creating scalable models that can expand to global audiences.