Bengaluru-based Eloelo, a rising star in India’s live social entertainment space, has just pocketed Rs 114.3 crore (roughly $13.5 million) in its latest Series B round, led by Singapore’s Play Ventures. This fresh injection of capital brings Eloelo’s total funding to over $50 million.
Also joining the round were familiar names—Kalaari Capital, MIXI Investments, Gameskraft Technologies, Griffin Gaming Partners, Waterbridge Ventures, Courtside Ventures, and Rocket Capital—doubling down on their bet that Eloelo is building something special.
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The platform, co-founded by Saurabh Pandey and Akshay Kumar Dubey in mid-2020, is shaking up the livestreaming space with a vibrant mix of games, interactive shows, live audio/video rooms, and a digital economy powered by virtual gifting. It’s a playground where creators, not algorithms, take center stage—and more than 20,000 of them have already found ways to earn money without relying on ads or subscriptions.
What sets Eloelo apart? It’s totally ad-free, subscription-free, and proudly India-first. All revenue flows in from digital gifts and micropayments made during live shows—a model that’s taken off, especially among Gen Z and Tier 2+ audiences hungry for more engaging and culturally relevant social platforms.
Pandey, the company’s CEO, summed up the mission in a statement:
“Most social platforms today are built for scrolling, not connecting. Eloelo flips that on its head. We’re here to build real-time communities—not just content feeds. Whether it’s chatting, playing games, or sending virtual love, we’re giving people a sense of belonging in their own language.”
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With eyes set on the Indian diaspora, a growing suite of AI-driven tools for creators, and an ambitious ARR target of $60 million by the end of next year, Eloelo is now playing in the big leagues—and doing it on its own terms.
