Eloelo, a startup that is India’s fastest growing creator-led live social gaming platform, has raised $2.1 million in funding.
Founded in August 2020 by Saurabh Pandey and Akshay Dubey, Eloelo is a livestreaming and social gaming platform. It brings indigenous activities like tambola, antakshari, chidiya udd, musical chairs, and talented performers in live formats with creators hosting games for their community of fans.
Eloelo has seen a 15 times spike in users over the past six months, crossing one million users on the platform with over 100 million game events recorded. Over 50% of the user base is female. Eloelo’s platform provides a live interactive experienced where instead of just watching gameshows or events users can participate and become interactive stars.
They had passion for the creator economy, as Pandey used to do stand-up comedy and managed his mother’s Youtube channel earlier.
“We started as content creators on social media and realized how few means existed for creators to monetize directly from their audiences,” Pandey said in an email to GamesBeat. “Creators hosting indigenous social games live was a unique insight we had after observing how Anchors host gameshows on TV or how families play such truly social games together.”
The pre-series A round was led by Waterbridge Ventures and Lumikai Fund. The latter is India’s first gaming and interactive media venture capital fund. Better Capital and talent management firm Exceed Entertainment also participated in the round.
Eloelo launched its beta in September 2020, and the core project launched in January. The Bangalore-based company will use the money to augment its creator partnerships as well as launch new live game formats, scaling the platform so it can get its next 10 million users.
“India’s creator economy is the fastest growing in the world, and the largest untapped audience in this space is women creators and influencers,” said Justin Shriram Keeling, cofounder of Lumikai, in an email with GamesBeat. “Eloelo has created a uniquely wholesome, fun and vibrant platform for creators to use their proprietary, lean-forward social gaming formats for families and friends can play together in a safe environment. Eloelo’s growth to over 100 million-plus game sessions in under nine months speaks for itself — and with more than 10,000 creators already onboard organically they’ve demonstrated that anyone from any background can become a future gaming superstar.”
View the full article here: https://venturebeat.com/2021/07/26/eloelo-raises-2-1m-for-creator-led-social-gaming-platform-in-india/
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