EloElo Group Raises $80 Million in Series C Funding Led by Hornbill Capital, NBCUniversal
The funding will expand original content, AI tools and hiring as the platform targets India’s fast-growing microdrama audience.
- NBCUniversal and Hornbill Capital co-led an $80 million Series C funding round in Bengaluru-based EloElo Group, the creator of microdrama platform Story TV. The round brings total fundraising to $130 million with a $500 million valuation.
- Founded in 2020 by CEO Saurabh Pandey, a former Flipkart executive, EloElo Group has scaled to over 300 million installs across its apps. Story TV now carries more than 5,000 microdramas in six languages, reaching over 33 million active users.
- Users spend an average of 95 minutes daily on Story TV, engaging with serialized content as the microdrama market grows rapidly. Analysts project India's microdrama industry could reach $4.5 billion by 2030, though monetization remains challenging with only 15-17 million monthly paying users.
- EloElo will deploy capital toward original programming in local languages, overseas expansion, and further development of Dolphin AI. The company plans to expand its 240-person staff, prioritizing growth in its artificial intelligence and machine learning research team.
- Deepak Arya, executive VP of corporate strategy at NBCUniversal, cited "significant opportunity in mobile-first storytelling" as the partnership supports EloElo's expansion beyond India. This investment reflects global interest in verticalized video formats, where celebrities including Issa Rae and Kim Kardashian are investing.
12 Articles
12 Articles
Ello Ello is preparing to invest in India’s mini-drama market, a sector experiencing significant growth. With over 118 million users enjoying mini-dramas every month, this serialized format has become increasingly popular in India. Ello Ello Story TV is one of the leading apps… This article, “Ello Ello Invests in India’s Mini-Drama Market,” originally appeared on Battery Robotics.
EloElo Group raises $80 million led by Hornbill Capital, NBCUniversal to fuel microdrama, consumer AI ambitions
EloElo Group looks to take its microdrama platform Story TV to international markets such as the US, invest in premium original content and strengthen its AI capabilities, founder Saurabh Pandey told Moneycontrol.
EloElo Group raises $80 mn from Hornbill Capital, NBCUniversal, MIT, others
The company will use the proceeds to develop new original content in regional languages, expand its microdrama offerings into international markets and continue investing in Dolphin AI, alongside other business initiatives.
The Economic Times
Times of IndiaEloElo Group raises $80 Million in Series C funding led by Hornbill Capital, NBCUniversal
EloElo Group has successfully raised $80 million in a Series C funding round to expand its AI-driven entertainment ecosystem. The company's focus will be on producing new original content and launching international micro-dramas. With over 40 million active users, EloElo plans to enhance its AI production capabilities through Dolphin AI. The funding will also support the company's aggressive growth strategy across diverse language offerings.
Coverage Details
Bias Distribution
- 45% of the sources are Center, 44% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
