Rocket Capital invests in Eloelo Series A fundraise of US$ 13M

Rocket Capital

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Rocket Capital

4 min readJun 3, 2022

Eloelo raises $13 Mn Series A funding to build India’s largest Creator-led Live Social Video Platform

The fresh funding will be used to scale up the Tech, Product & Content teams at Eloelo, along with fostering new partnerships with creators

June 01, 2022: India’s leading homegrown live video streaming platform, Eloelo, today said that it has raised $13 million as a part of its Series A funding round co-led by KB Investments and Kalaari Capital along with existing investors, Waterbridge Ventures & Lumikai Fund. Convivialité Ventures & Rocket Capital also participated in the round.

Akarsh Dhaiya, Managing Partner of Rocket Capital said, “Eloelo creates the perfect mix with its social gaming and live streaming setup by enabling the content creators to build a community. Creator economy is the future, and India is massive (literally), Networks Effects is THE moat, and Saurabh & Akshay are the dream team. ”

This is the startup’s second successive round in less than a year, having collectively raised around $16 Million in funding so far.

The fund raised will be used to scale up the Tech, Product & Content teams along with fostering new partnerships with creators & helping them reach millions of users.

Founded in August’20 by ex-Flipkart executives Saurabh Pandey and Akshay Dubey, Eloelo has quickly crossed over 3.5 Million Users & 40,000 Creators on its platform. The startup wants to build the future of creator-fan engagement where creators host live video rooms, build interactive communities & monetize directly from fans.

(Left) Akshay Dubey — COO & Co-Founder, (Right)Sourabh Pandey, co-founder & CEO of Eloelo

“Creators want to cultivate deep, authentic relationships with their fans & Eloelo lets them imagine completely new interactive live experiences to engage fans. We have been growing at 40% MoM with a vision to build the future of interactive entertainment. Our Series A fundraise demonstrates the belief our current & new investors have in what we are building and enables us to take bolder bets to shape the creator economy for Bharat’’, said Saurabh Pandey, Co-founder & CEO of Eloelo.

As it plans to launch monetization at scale, Eloelo aims to bring in innovative means of live interactions which enables creators to monetize from their superfans. The startup is also exploring use cases of NFTs for its top creators.

With many players entering live video streaming, what sets Eloelo apart is the wide range of tools for creators to host live interactive experiences. The startup says that it is designed to extend support to low-spec devices from tier-2,3,4 of India thus truly enabling the Creator middle class to shine.

About Rocket Capital

Rocket Capital is a VC fund focusing on New Media Technology start-ups globally. We invest in pre-Series A, Series A & B companies and help founders scale in Asia.

This is the second investment made by Rocket Capital, having invested previously in Admix. Last year, in October 2022, UK-based in-game monetization platform Admix, raised US$ 25Mn Series B in a round co-led by Elefund and DIP Capital. Also participating were Force Over Mass, Notion Capital, Speedinvest, Rocket Capital, Colopl Next, Sure Valley Ventures, and Sidedoor Ventures, as well as growth investor Kuvi Capital and angels from the gaming industry.

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Rocket Capital invests in Eloelo Series A fundraise of US$ 13M

About Rocket Capital

Written by Rocket Capital