Eloelo, a stay social gaming platform, has accomplished a elevate of $2.1 million pre-Collection A spherical on Tuesday.
The capital elevate wqs led by the traders Waterbridge Ventures and India’s 1st gaming and interactive media fund Lumikai Fund with the participation of Higher Capital and expertise administration agency Exceed Leisure.
The Indian startup was present in August 2020 and was headquartered in Bengaluru by Saurabh Pandey and Akshay Dubey. Each IIT-IIM founders have additionally skilled throughout P&G, GoZoomo, and Flipkart.
Eloelo presents indigenous actions between creators internet hosting video games and their neighborhood of followers in stay codecs, resembling tambola, antakshari, chidiya udd, musical chairs, and gifted performers.
“Dwell Video is more and more resonating with followers because it helps them construct ‘genuine’ relationships with creators. Immediately, our customers spend wherever between 30-35 minutes every day having fun with Dwell video games, Dwell streams on our App. Within the subsequent one yr, we shall be launching a number of creator-led Dwell Video games and Occasion codecs that unlocks monetization for creators and interactive leisure for customers,” stated Saurabh Pandey, CEO, and Co-Founding father of Eloelo.
In line with the corporate’s assertion, the newly raised fund will assist Eloelo more and more give attention to creator partnerships and the launch of latest stay sport codecs, which is anticipated to draw greater than 10M customers.
The gaming startup has seen a development of multiple million customers on its platform with 100 million sport occasions recorded over the previous six months. Additionally, the platform has appealed to over 15,000 influencers organically over the previous few months.
“There are over 5 million creators in India however over 97 p.c of them have very restricted revenue alternatives. With our differentiated providing, we now have seen a number of the thrill from creators who’ve joined the platform and invited their followers from social platforms as properly”, added Akshay Dubey, Co-Founding father of EloElo.
Because the creator economic system continues rising in India, the traders hope that Eloelo could be an engine of development for creators in Bharat and India with its imaginative and prescient of making India’s largest platform.