Social gaming and livestreaming platform Eloelo announced today that it has raised $22 million in its pre-Series B round of fundraising. According to the platform’s creators, this funding will go towards attracting and building relationships with talent, building out AI and AR tools and strengthening revenue initiatives for users.
Courtside Ventures and Griffin Gaming Partners led the round, with participation from Mixi Inc, Waterbridge Ventures, Lumikai Fund, Kalaari Capital, Convivialite Ventures and Rocket Capital. Nick Tuosto, Griffin’s managing director, said of Eloelo: “Through the magic of gamification, Eloelo is transforming livestreams into captivating experiences that translate to deep audience engagement. The platform has attracted a vast community of content creators, driving its growth to nearly 40 million users — a striking testament to the potential ahead for Eloelo.”
Eloelo already raised $13 million in its Series A fundraising round in June 2022. According to the company, the platform has over 37 million users and 120,000 creators at present.
Saurabh Pandey, Eloelo’s CEO and founder, said in a statement, “Eloelo wants to be a ‘party in your
pocket,’ where users are not just watching a livestream but are part of the experience. We are pioneering a new category of Live Entertainment + Games + Communities – almost like a ‘Digital Third Place’ where young Indians are always connected. We are India’s largest Live Entertainment app growing at over 400% YoY. This fundraise in such a testing macro environment further enforces the belief our investors have in our vision.”