April 10, 2025: Eloelo, a live video and audio social streaming platform has secured $13.5 million to advance GenAI use cases, and global expansion in Indian diaspora markets. It also aims to scale its revenue further by expanding its range of offerings with the aim to build a large media and entertainment powerhouse, the company revealed in a statement.
Anton Backman, Partner, Play Ventures, said “Play Ventures believes that next-generation social platforms built natively for mobile-first and video-first communities remains a massively untapped opportunity. We’re incredibly excited to partner with the Eloelo team as they pioneer a new category of interactive social entertainment for India and beyond. We’re seeing the convergence of creator-led content, real-time community engagement, and gamified social experiences reshaping how digital natives connect and express themselves.”
The platform which also offers gamification and micropayments, allows creators to host interactive sessions in several Indian languages. Furthermore, it enables creators to host interactive video and audio livestreams in their local languages using AI-led tools to build a community, engage and monetise directly from their audiences.
Eloelo Aims to Build India’s Largest Social Entertainment Platform
“We believe that feeling connected to others is a primary human need of belongingness, and we are solving that across 8 languages by connecting Indians over interactive livestreams with games, chat and virtual gifting to express their emotions. With close to 400 Million aspirational middle India consumers, we believe this is a massive underserved market which needs India-first solutions.” said Saurabh Pandey, Founder and CEO of Eloelo.
According to Entrackr report , the five-year-old firm remained in the pre-revenue stage until March 2024 (FY24) while continuing to incur losses. While the company posted zero operating revenue during FY24, it made Rs 5 crore from interest on fixed deposits, according to the firm’s annual financial statements sourced from the Registrar of Companies (RoC).
The Series B funding round was led by Play Ventures. The round also saw participation from Kalaari Capital, MIXI Investments, Gameskraft Technologies, Griffin Gaming Partners, Waterbridge Ventures, Courtside Ventures & Rocket Capital, the company said in a statement.
Eloelo has so far raised more than $50 million in funding, including its $22 million round in September 2023.
