Bengaluru-based social entertainment platform Eloelo is rewriting the rules of online engagement by reaching a staggering 90 million users—without relying on ads or subscriptions. The platform, which recently raised $13.5 million in a Series B round led by Play Ventures, has now secured over $50 million in total funding to date.
Founded in 2020 by Saurabh Pandey and Akshay Dubey, Eloelo blends live video, gamification, chatrooms, and virtual gifting, creating a highly interactive and culturally relevant experience for Bharat’s mobile-first audience. Its monetization model is centered on microtransactions, allowing over 20,000 creators to earn income through digital gifts instead of traditional ad revenue.
Since launching monetization in May 2024, Eloelo has already hit a $23 million annual revenue run rate (ARR) with 1.5 million paying users. With content in eight Indian languages and a 150,000+ strong creator network, the startup is poised to expand into Indian diaspora markets while enhancing its AI-powered creator tools.
By building a platform focused on expression, interaction, and cultural authenticity, Eloelo is setting a new benchmark for social platforms in India and beyond.