EloElo's fundraising pitch deck puts the group's annualized revenue run rate at $230 million and claims 27 million monthly users who together log around 2 billion minutes on the platform. The company, a WaterBridge portfolio investment, has brought on investment bank Avendus to raise more than $50 million in a fresh round, according to the report.
Started in 2020 by Saurabh Pandey, previously at Flipkart, Citi and L'Oreal, EloElo has raised roughly $50 million to date from backers including WaterBridge, Lumikai, Gameskraft and Kalaari Capital. Its recent growth has ridden the boom in short micro-drama content.
Read the full article on Moneycontrol.
Credit: Moneycontrol