Eloelo, a live social entertainment platform, Thursday announced that it has raised $13.5 million in its Series B funding round led by Play Ventures.
The funding also saw participation from Kalaari Capital, MIXI Investments, Gameskraft Technologies, Griffin Gaming Partners, Waterbridge Ventures, Courtside Ventures and Rocket Capital, per a company announcement.
In a statement, Eloelo said that the fresh infusion will help it go deeper into gen-AI use cases, international expansion in Indian diaspora markets and scaling revenue further.
Eloelo 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.
“In less than a year of launch, we are now hitting a 200 crore annual revenue run rate ($23 million ARR) with 1.5 million paying users and are one of the fastest growing platforms in India at this scale,” said Saurabh Pandey, Founder & CEO of Eloelo.
To date, Eloelo has raised over $50 million in funding, including a $22 million round in September 2023 led by Courtside Ventures and Griffin Gaming Partners. Eloelo competes directly or indirectly with other platforms like Sharechat, Frnd, Lokal in the live streaming and social entertainment space.
INDIA DEAL MONITOR
Here are the prominent venture capital transactions in India announced from April 7-10, 2025.
