Bengaluru-based live social entertainment platform Eloelo has raised Rs 114.3 crore ($13.5 million) in a Series B funding round. Existing investors, including prominent venture capital firms, participated, bringing the startup’s total funding to over $50 million. The funds will drive expansion into Indian diaspora markets, enhance AI tools for creators, and target a $60 million annual revenue run rate (ARR) by 2025.
What is Eloelo?
Founded in July 2020, Eloelo is a multilingual platform combining live video/audio streaming, gamified interactions, and virtual gifting. It enables creators to host interactive chatrooms, multiplayer games (like Ludo), and moderated live streams across 8 Indian languages, including Hindi, Tamil, and Bengali. Unlike ad-driven platforms, Eloelo monetizes through micropayments and digital gifts, allowing over 20,000 creators to earn income.
Growth Traction and Vision
Since launching monetization in May 2024, Eloelo has achieved a $23 million ARR with 1.5 million paying users, while its user base has surged to 90 million. The platform now boasts 150,000+ creators and aims to become the “Digital Third Place for Bharat”—a virtual hub for entertainment and community-building. The company emphasizes solving the “core human need for belonging” by connecting India’s aspirational middle class through localized content.
Future Roadmap
- AI and AR Integration: Plans to deploy advanced AI tools for content moderation, analytics, and augmented reality filters to boost creator engagement.
- Diaspora Focus: Expanding reach to Indian communities abroad, leveraging cultural familiarity and language diversity.
- Gaming and IP Development: Strengthening interactive formats like live game shows and multiplayer experiences, which already include fan favorites like Sheep Fight and Tambola.
Why It Matters
With 75-80% of users from non-metro cities like Lucknow and Patna, Eloelo taps into India’s underserved regional markets. Its Play Store rankings now surpass popular apps in some categories, reflecting strong organic growth. The platform is pioneering a “new category of interactive social entertainment” that blends live streaming with cultural expression.
The Bottom Line
As India’s digital consumption evolves, Eloelo’s focus on real-time engagement and creator empowerment positions it uniquely in the $1.3 billion+ social entertainment sector. With fresh capital and ambitious targets, the platform is set to redefine how Bharat connects, plays, and earns online.