EloElo Group, the Indian creator of microdrama app Story TV, has closed an $80 million Series C round co-led by NBCUniversal and Hornbill Capital. The investment will be used to produce local-language original shows, scale globally, and advance the company’s AI-driven content creation tools.
- EloElo valued at $500M after $80M Series C funding
- Story TV streams 5,000+ microdramas in six languages
- Funds to support AI platform Dolphin AI and international growth
What happened
EloElo Group, the Bengaluru-based tech company behind the popular microdrama app Story TV, raised $80 million in a Series C funding round co-led by Hornbill Capital and NBCUniversal. Additional investors joining the round include MIT Investment Co., alongside previous backers such as Play Ventures and Kalaari Capital. This round increases EloElo’s total funding to $130 million and places its valuation at $500 million.
Story TV currently hosts over 5,000 microdramas across six Indian languages, adding new content every three hours. Along with Story TV, EloElo operates Master, a microlearning platform, and Voxy AI, an AI companion, all supported by its agentic AI suite Dolphin AI that creates images, audio, and video. The company reported revenue of approximately Rs 69.5 crore for the fiscal year ending in March 2025 and charges users via a subscription model launched in May 2024.
Why it matters
The funding and strategic partnership with NBCUniversal highlight growing global interest in India’s short-form scripted content market, which experts predict will generate billions globally by 2026. EloElo is poised to capitalize on this trend by leveraging AI to produce localized and scalable storytelling that appeals to millions of users in India and beyond.
With a strong user base of over 40 million monthly active users and extensive content offerings, EloElo is positioned to disrupt traditional content consumption patterns by delivering highly engaging, language-diverse microdramas. The backing from a major media player like NBCUniversal not only provides capital but also access to global markets and industry expertise, signaling ambitions beyond India, including entry into the U.S. market.
What to watch next
EloElo plans to use the new funding to expand original microdrama production in local Indian languages and initiate its international rollout. Observers should watch how the company scales storytelling formats outside India and adapts to new audiences, potentially setting a new precedent for micro-content consumption globally.
Another key area to monitor is the development and impact of Dolphin AI, EloElo’s proprietary AI creative suite. As AI-driven media gains traction, how effectively EloElo integrates AI into content creation and user experience could redefine competitive advantages. Expansion of its AI and machine learning teams will be critical to sustaining innovation and market leadership.