EloElo Group Raises $80M Series C Led By Hornbill Capital And NBCUniversal
NBCUniversal is backing an Indian microdrama company. EloElo Group, the parent of microdrama platform Story TV, has raised $80 million (nearly ₹756 crore) in a Series C round led by Hornbill Capital and NBCUniversal. MIT Investment Co. also participated, along with existing backers Play Ventures, Kalaari Capital, Waterbridge Ventures and Griffin Gaming Partners. The raise takes EloElo’s total funding to $130 million.
Founded in 2020 by former Flipkart executive Saurabh Pandey, EloElo says Story TV has more than 5,000 microdramas across six languages, and that its apps together have over 40 million monthly active users. The company plans to use the funds to invest in premium original content across Indian languages, expand Story TV to international markets and strengthen its AI capabilities through Dolphin AI, its AI creative suite.
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