27.July.2021 –  Bengaluru-based, EloElo a social gaming platform, announced that it raised USD 2.1 Million in a pre-Series A round. This round was co-led by Lumikai Fund and Waterbridge Ventures.

This round also featured investors like Exceed Entertainment, a talent management firm and Better capital.

“EloElo has fostered an inclusive, welcoming and safe community for friends and family to play together, and for fans to become stars in their own right. We look forward to working with the team as they build a truly next-generation social community leveraging the power of play for the next 10 million fans,” – Justin Shriram Keeling, general partner of Lumikai.

“Saurabh and Akshay are truly building a one-of-a-kind gamified live platform for content creators. Their best-in-class engagement and retention metrics, in addition to over 1 million users on the platform, demonstrates the unique value proposition of the platform,” he said.

“The creator economy is experiencing an inflexion point and across the market segment. A brand new infrastructure is being built to help creators build, earn and grow,” said Vaibhav Domkundwar of Better Capital. “Eloelo is just that—an engine of growth for creators in Bharat and India.”

The startup stated that it will use the fund raised to help the launch of a new format of live gaming and to augment its focus on partnership creators and to scale the platform for more than 10 Million users.

About Eloelo – 

Eloelo was founded last year by Akshay Dubey and Saurabh Pandey, having its headquarters in Bengaluru. It is a social gaming platform and live streaming that brings indigenous activities like antakshari, musical chairs, and tambola with creators hosting games for the fan community.

“Live video is increasingly resonating with fans as it helps them build ‘authentic’ relationships with creators. Today our users spend anywhere between 30-35 minutes daily enjoying live games, live streams on our app. In the next one year, we will be launching multiple creator-led live games and event formats that unlock monetization for creators and interactive entertainment for users,” –  Saurabh Pandey, CEO and co-founder, Eloelo.

EloElo stated that it has noticed a 15-times increase in users in the last six months, and passing 1 Million users on the platform with recording more than 100 million game events. It has boarded more than 15,000 influencers over the past months.

The startup offers an interactive experience where rather than just watching games or events, users can participate. 

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