India's EloElo raises $80 million Series C led by NBCUniversal and Hornbill Capital
EloElo Group, the parent company of Indian microdrama platform Story TV, has secured $80 million in a Series C funding round co-led by NBCUniversal and Hornbill Capital at a $500 million valuation.
Bengaluru-based EloElo Group has raised $80 million (nearly ₹756 crore) in a Series C funding round co-led by NBCUniversal and India-focused investment firm Hornbill Capital. Existing investors Kalaari Capital, Play Ventures, and Waterbridge Ventures also participated. The round values the company at $500 million according to TechCrunch, while reporting from Variety notes that the transaction brings EloElo's total funding to $130 million.[1][2][4][5][7][8]
EloElo was founded in 2020 by former Flipkart executive Saurabh Pandey. Following the fundraise, the company plans to pursue international expansion as it aims to build what it describes as the "Netflix of micro-drama." Fresh proceeds will also be directed toward investing in premium original content across Indian languages and strengthening Dolphin AI, the startup's AI-powered creative suite.[3][5]
The funding comes as the serialized microdrama format rapidly expands in India, where TechCrunch reports more than 118 million users stream microdramas monthly. EloElo's Story TV app now hosts over 5,000 microdramas across six languages and counts an estimated 33 million-plus active users, while the parent group claims over 40 million monthly active users across its portfolio of applications.[4][5][6][8]
Key facts
- EloElo Group raised $80 million (nearly ₹756 crore) in a Series C funding round co-led by NBCUniversal and Hornbill Capital.
- The round values EloElo at $500 million and raises its cumulative funding to $130 million.
- Existing investors Kalaari Capital, Play Ventures, and Waterbridge Ventures joined the Series C round.
- EloElo was established in 2020 by former Flipkart executive Saurabh Pandey.
- Capital will be deployed to expand Story TV internationally, produce original Indian-language microdramas, and develop the Dolphin AI creative suite.
- Story TV offers over 5,000 microdramas across six languages and has more than 33 million estimated active users.
- More than 118 million people watch microdramas every month in India.
Sources · 5 sources
- ET
Economic Times@EconomicTimesPost on X ·
EloElo Group raises $80 Million in Series C funding led by Hornbill Capital, NBCUniversal https://t.co/6x8cTnIrVH
Open source - TE
TechmemeArticle ·
NBCUniversal, Hornbill Capital Back EloElo, Parent of Indian Microdrama Platform Story TV, in $80 Million Funding Round (Naman Ramachandran/Variety) Naman Ramachandran / Variety : NBCUniversal, Hornbill Capital Back EloElo, Parent of Indian Microdrama Platform Story TV, in $80 Million Funding Round — NBCUniversal and India-focused investment firm Hornbill Capital have co-led an $80 million Series C round in EloElo Group, the Bengaluru-based company behind Indian microdrama platform Story TV.
Open source - ET
Economic Times@EconomicTimesPost on X ·
EloElo eyes global expansion post $80 million fundraise, aims to build ‘Netflix of micro-drama’ https://t.co/hI5QCn9FZb
Open source - TE
TechmemeArticle ·
India-based EloElo, whose Story TV microdrama app has 33M+ estimated active users, raised an $80M Series C led by Hornbill Capital and NBCU at a $500M valuation (Ivan Mehta/TechCrunch) Ivan Mehta / TechCrunch : India-based EloElo, whose Story TV microdrama app has 33M+ estimated active users, raised an $80M Series C led by Hornbill Capital and NBCU at a $500M valuation — More than 118 million users watch microdramas every month as the serialized format has taken off in India.
Open source - IN
Inc42@Inc42Post on X ·
Microdrama Platform Story TV’s Parent EloElo Raises $80 Mn In Series C Round. 👇 Founded in 2020 by former Flipkart executive Saurabh Pandey, EloElo Group has raised $80 Mn (nearly ₹756 Cr) in a funding round led by NBCUniversal and Hornbill Capital, with participation from existing investors including Kalaari Capital, Play Ventures and Waterbridge Ventures. The company will use the fresh capital to expand Story TV internationally, invest in premium original content across Indian languages and strengthen Dolphin AI, its AI-powered creative suite. Story TV currently offers over 5,000 microdramas across six languages, while EloElo Group claims to have over 40 Mn monthly active users across its apps. 🔗 Read more about EloElo’s $80 Mn fundraise and global expansion plans here: https://t.co/SwdoZkime4 #EloElo #StoryTV #Microdrama #StartupFunding #News
Open source - TE
Techmeme@TechmemePost on X ·
India-based EloElo, whose Story TV microdrama app has 33M+ estimated active users, raised an $80M Series C from Hornbill Capital and NBCU at a $500M valuation (@indianidle / TechCrunch) (Visit Techmeme dot com for the link and full context!)
Open source - TE
Techmeme@TechmemePost on X ·
EloElo Group, the company behind Indian microdrama app Story TV, raised an $80M Series C co-led by NBCUniversal and Hornbill, bringing its total raised to $130M (@namanrs / Variety) (Visit Techmeme dot com for the link and full context!)
Open source - AI
Analytics Insight@analyticsinmePost on X ·
𝐄𝐥𝐨𝐞𝐥𝐨 𝐑𝐚𝐢𝐬𝐞𝐬 𝐔𝐒𝐃 𝟖𝟎 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐅𝐫𝐨𝐦 𝐍𝐁𝐂𝐔𝐧𝐢𝐯𝐞𝐫𝐬𝐚𝐥 & 𝐇𝐨𝐫𝐧𝐛𝐢𝐥𝐥 𝐂𝐚𝐩𝐢𝐭𝐚𝐥 Microdrama mania is here! India's Eloelo, the maker of Story TV, just raised USD 80 million from NBCUniversal and Hornbill Capital. The startup is now valued at USD 500 million. Over 118 million Indians watch microdramas every month, and the race for your screen time is heating up. Ready for binge-worthy bites? #Eloelo #StoryTV #Microdrama #NBCUniversal #Startups #India #OTT #Funding #AI #AINews #AnalyticsInsight #AnalyticsInsightMagazine Read More 👇 https://t.co/08epqDx6UA
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