Social Gaming Startup Eloelo Raises $2.1M In Pre-Series A Funding
EloElo, a creator-led Social gaming & live streaming platform, has raised $2.1 million in a pre-Series A funding round, co-led by Waterbridge Ventures and Lumikai Fund (India’s 1st gaming and interactive media fund).
The funding round also saw participation from Better Capital and talent management firm Exceed Entertainment.
As per the startup, it will use the funding to increase its continued focus on creator partnerships as well as aid the launch of new live game formats, scaling the platform to the next 10M users.
Started by Saurabh Pandey and Akshay Dubey in August 2020, Eloelo is a Bengaluru-based creator-led live social gaming platform bringing indigenous activities like antakshari, chidiya udd, tambola, musical chairs, and talented performers in live formats with creators hosting games for their community of fans.
Speaking on the development, Saurabh Pandey, CEO and Co-Founder of Eloelo, said,
“Live Video is increasingly resonating with fans as it helps them build ‘authentic’ relationships with creators. Today, our users spend anywhere between 30-35 minutes daily enjoying Live games, Live streams on our App. In the next one year, we will be launching multiple creator-led Live Games and Event formats that unlocks monetisation for creators and interactive entertainment for users.”
Because of its differentiated offering, the platform has seen a lot of excitement from creators, added Akshay Dubey, Co-Founder of EloElo.
The Bengaluru-based platform has onboarded over 15,000 influencers organically over the past few months. Additionally, EloElo claims to have seen a 15X spike in users over the past six months, crossing one million users on its platform with over 100 million game events recorded.
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