We’re excited to share that our portfolio company, Eloelo, has raised a $13.5 million Series B round led by Play Ventures with participation from GamesKraft and existing investors Kalaari Capital, Courtside Ventures, Waterbridge Ventures, MIXI, Griffin Gaming Partners and Rocket Capital.
Eloelo aims to bring back the joy of light-hearted, inclusive entertainment, like the experience families once shared while watching TV game shows. By focusing on indigenous gaming and entertainment formats, the company has found an effective way to attract users and spark meaningful interactions with creators.
At its heart, Eloelo is built around active participation — users aren’t just passive viewers but become part of the experience. In a world where people increasingly seek genuine interpersonal connections, Eloelo offers a platform that fosters deep engagement between creators and their audiences.
We congratulate Saurabh and the entire Eloelo team on this incredible milestone. Since our Series A investment in 2022, the team has remained deeply committed to their core mission of delivering inclusive, interactive entertainment, while building a vibrant and trusted platform that brings creators and audiences closer together.
Progress since our Series A Investment in 2022:
The demand for interactive, creator-led entertainment is surging globally, with the livestreaming market projected to exceed $250 billion by 2030. This growth is driven by consumers seeking deeper engagement, the mainstreaming of creator economies, and a shift towards participatory, gamified content formats. These powerful tailwinds presented a significant opportunity for platforms that can blend entertainment with social interaction at scale.
Starting as a live social platform with integrated games, Eloelo has rapidly evolved into a category leader in India’s entertainment space. With over 90 million downloads, 17 million+ monthly active users, and a thriving community of 150K+ creators, Eloelo boasts strong retention and engagement metrics.
Over the past three years, the company has remained focused on building a robust product, establishing product-market fit, and scaling its user base. They started monetization in May 2024, and within less than 12 months, have crossed an impressive $23 million in ARR, powered by a growing base of over 1.5 million paying users. Virtual gifting for creators have picked up massively on the platform.
Eloelo’s rapid growth reflects its strong product foundations, deep understanding of consumer behaviour, and ability to craft highly engaging, interactive entertainment experiences. The company’s success stands as a testament to Saurabh’s bold vision and the team’s outstanding execution capabilities.
The Roadmap Ahead
Looking ahead, Eloelo sees a significant opportunity to capture a share of the global livestreaming market by owning the space for interactive, TV-like entertainment experiences. Eloelo also plans to unlock new revenue streams — from creator monetization tools to brand partnerships.
Following this fundraise, Eloelo will enter new markets, beginning with the Indian diaspora across Asia and the Middle East. With strong early signals from these markets, the company plans to further extend its footprint to the US and UK.
With a focus on blending indigenous entertainment formats with global appeal, Eloelo is building a next-generation social platform where users don’t just watch content but are truly part of the experience.
Vani Kola, Managing Director at Kalaari Capital said –
“As early partners to Eloelo, we have seen the company emerge as a market leader in India’s livestreaming entertainment category. We have been fortunate to work closely with Saurabh since our investment and are excited to double down in this round and support them as they scale new heights. I am also delighted to welcome Anton and Harri from Play Ventures on this journey and look forward to working with them and the existing investors who continue to believe in the company’s growth and vision.”
