Home Innovation Gamification Eloelo Raises $13.5M to Expand...

Eloelo Raises $13.5M to Expand Gamified Platform

Gamification

Business Honor
14 April, 2025

Eloelo raises $13.5M to boost its gamified live social platform, aiming to scale AI tools and tap into diaspora markets.

Social live entertainment platform Eloelo has received $13.5 million (Rs 114.3 crore) in Series B funding co-led by Play Ventures, among other investors that include Kalaari Capital, MIXI Investments, Gameskraft Technologies, Waterbridge Ventures, Griffin Gaming Partners, Courtside Ventures, and Rocket Capital. The startup based in Bengaluru will employ the funds raised to enhance AI-powered creator features and explore further into Indian diaspora markets.

At the center of Eloelo's offering lies a new model combining live video and audio streaming, gamification, and micropayments. This gamification allows content creators to support interactive programming such as quizzes, live game shows, and talent displays, shifting users' content consumption from passive experience to engaging social experiences. The service aims to engage audiences actively rather than passively, with real-time interaction blended into entertainment.

Backed by Saurabh Pandey in July 2020, Eloelo has carved out a niche in India's expanding social media market by focusing on local languages and geotargeted content. Available in eight Indian languages, the platform currently has more than 20,000 monetizable creators and 1.5 million paying members. Eloelo activated monetization in May 2024 and has already achieved a run rate of $23 million in yearly revenue with the aim to scale to $60 million by 2025.

With gamification increasingly becoming a core aspect of how young audiences interact online, Eloelo's approach places it at the forefront of India's $12 billion new digital media economy, gaming and livestreaming included. Taking on ShareChat, Frnd, and Lokal, Eloelo is revolutionizing social interaction by offering gamified entertainment experiences that are local and globally scalable.