EloElo Group Raises USD 80 Mn in Series C
EloElo Group, the company behind micro drama platform Story TV, has raised USD 80 million in a Series C round.
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EloElo Group, the Bengaluru-based consumer AI and entertainment company behind micro drama platform Story TV, has raised USD 80 million in a Series C round led by Hornbill Capital and NBCUniversal. MIT Investment Co. and existing investors Play Ventures, Kalaari Capital, Waterbridge Ventures, and Griffin Gaming Partners also participated. Avendus Capital was the exclusive financial advisor. The round takes EloElo’s total funding to USD 130 million.
The funds will go toward original content in local languages, an international launch of its micro dramas, and further investment in Dolphin AI.
According to Omdia, micro dramas will generate USD 14 billion globally by the end of 2026. In India, Redseer estimates that 40 million people paid for a micro drama at least once in FY26, and Lumikai’s State of India Interactive Media Report projects the market will reach USD 4.5 billion by 2030.
“Story TV shows us what India wants to watch, and Dolphin AI gives us the economics to make it, which is how we have scaled with solid unit economics,” said Saurabh Pandey, Founder and CEO, EloElo Group.
“We’re excited to bring NBCUniversal’s global capabilities to the partnership as EloElo expands beyond India, including into the U.S. market,” said Deepak Arya, Executive Vice President, Corporate Strategy & Development, NBCUniversal.
EloElo Group, the Bengaluru-based consumer AI and entertainment company behind micro drama platform Story TV, has raised USD 80 million in a Series C round led by Hornbill Capital and NBCUniversal. MIT Investment Co. and existing investors Play Ventures, Kalaari Capital, Waterbridge Ventures, and Griffin Gaming Partners also participated. Avendus Capital was the exclusive financial advisor. The round takes EloElo’s total funding to USD 130 million.
The funds will go toward original content in local languages, an international launch of its micro dramas, and further investment in Dolphin AI.
According to Omdia, micro dramas will generate USD 14 billion globally by the end of 2026. In India, Redseer estimates that 40 million people paid for a micro drama at least once in FY26, and Lumikai’s State of India Interactive Media Report projects the market will reach USD 4.5 billion by 2030.
“Story TV shows us what India wants to watch, and Dolphin AI gives us the economics to make it, which is how we have scaled with solid unit economics,” said Saurabh Pandey, Founder and CEO, EloElo Group.
“We’re excited to bring NBCUniversal’s global capabilities to the partnership as EloElo expands beyond India, including into the U.S. market,” said Deepak Arya, Executive Vice President, Corporate Strategy & Development, NBCUniversal.
