On June 2, Eloelo, creator-led social gaming and live-streaming platform announced that it had raised $13 million as part of a Series A round led by South Korea’s KB Investments and Bengaluru-based early-stage venture fund Kalaari Capital.

Convivialité Ventures and Rocket Capital, Pernod Ricard’s corporate venture capital arm, and existing investors Waterbridge Ventures and Lumikai Fund participated in the round. The startup has raised about $16 million in funding so far.

Founded in August 2020 by former Flipkart executives Saurabh Pandey and Akshay Dubey, Eloelo allows creators to host live video rooms, build interactive communities and monetise directly from fans through virtual gifts that can be converted into physical currency.

It allows consumers to play free-to-play games with their favourite consoles, such as Quiz, Tambola, Antakshari, Lucky 7, Solitaire and Spin the Wheel, via live stream. It also allows them to watch live events from creators in various categories, including dance, music, cooking, comedy and astrology.

The Bengaluru-based startup claims to currently have over 3.5 million users and 40,000 creators on its platform. The company said it plans to use the funds raised to expand its technology, product and content teams while forging new partnerships with creators.

Eloelo also claims that its platform is designed to support low-spec mobile devices, thus meeting the needs of Tier 2, 3 and 4 in the country.

Eloelo said it plans to introduce new real-time interactions on the platform, allowing creators to monetize their superfans as it looks to initiate monetization at scale. The company said it is also exploring non-fungible tokens (NFTs) for its top creators.