Bengaluru-based creator-led live social gaming platform EloElo has raised $2.1 million in a pre-Series A round, co-led by Waterbridge Ventures and Lumikai Fund (India’s 1st gaming and interactive media fund). Better Capital and talent management firm Exceed Entertainment also participated in the round.
The company will deploy this fresh fund towards strengthening creator tie-ups, launching new game formats, and expansion, the company said in a press release.
Founded in August 2020 by Saurabh Pandey and Akshay Dubey — an IIT-IIM founder duo with collective experience across P&G, GoZoomo, and Flipkart — Eloelo 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 its user base grow 15 times over the past six months. The platform now has more than 1 million users and recorded over 100 million game events, reported ET.
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Eloelo has brought on board more than 15,000 Influencers organically over the past few months, and 50% of their user base is women. The gaming startup provides a live interactive experience where instead of just watching game shows or events, users can participate and become interactive stars.
“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,” said Justin Shriram Keeling, general partner of Lumikai.
Investor Waterbridge has been associated with Eloelo since its inception, partner Ravi Kaushik said. That the company now has a million-strong user base is an important milestone in its vision of creating India’s largest platform for the creator economy, he said.
“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.
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