VC Fund Investments
Social gaming platform EloElo raises $2.1 M from Waterbridge Ventures, Lumikai Fund, others
Bengaluru-based live social gaming platform EloElo has raised a pre-series A round of USD 2.1 million co-led by Waterbridge Ventures and Lumikai Fund. Better Capital and talent management firm Exceed Entertainment also participated in the round. The company will deploy the funds to focus on creator partnerships as well as aid the launch of new Live game formats, scaling the platform to the next 10 million users. Founded in August 2020 by IIT and IIM alumni Saurabh Pandey and Akshay Dubey, the firm brings indigenous activities like tambola and talented performers in live formats with creators hosting games for their community of fans. It is said to have seen a 15X spike in users over the past 6 months.
From the Venture Intelligence PE-VC Deal Database: In Jul-20, EloElo raised $390-K from Sprout Venture Partners, WaterBridge Ventures and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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