The Brighton & Hove Albion defender appeared to be knocked unconscious for a few seconds as medical staff rushed to his aid in the second half of their 2-1 win over Arsenal.
The right-back required treatment for several minutes following the collision but was able to walk off the pitch with assistance from Albion staff.
Arsenal’s Kolasinac had already been booked in the first half and plenty were calling for a second caution at least as he clattered into his opponent.
But Seagulls boss Chris Hughton, while concerned for Schelotto, did not see any intentional foul play.
He said: “My first impression on the challenge was that it was a coming together. I did not see anything malicious in it at the time.
“I haven’t see it again, but I am led to believe that is the case.
“He was shock at the time and maybe there will be a slight be on concussion, but he certainly seemed ok in the changing room afterwards.”
Schelotto was able to return from the dressing room and watch the closing stages off the second half from the bench on Sunday, but he will be assessed this week ahead of the trip to Everton.
The defender himself tweeted on Monday morning: “Great victory yesterday, thanks to everyone for the messages, I’m fine!!!”