EloElo Group

Media & Entertainment · Consumer Internet · India

Funding

EloElo raises $80M Series C from NBCUniversal and Hornbill Capital

The deal marks Hollywood's first major bet on India's microdrama boom, a format projected to generate $14 billion worldwide this year.

• EloElo Group, parent of Indian microdrama app Story TV, raised an $80 million Series C co-led by Hornbill Capital and NBCUniversal, valuing the company at about $500 million.
• Founded in 2020 by former Flipkart executive Saurabh Pandey, EloElo's Story TV has become India's top microdrama app, with over 5,000 serialized dramas across six languages.
• Beyond Story TV, EloElo runs micro-learning app Master and AI products Voxy AI and Dolphin AI, an agentic creative suite that produces images, audio and video for its shows.
• The round brings EloElo's total funding to $130 million; its apps now reach over 40 million monthly users and have passed 300 million installs, with annualized collections rising more than tenfold to roughly $250 million over the past year.
• EloElo plans to spend the capital on original local-language programming, an international launch of its microdramas starting with the U.S., and further buildout of Dolphin AI.
• More than 118 million Indians watch microdramas monthly, with apps like Kuku TV and Quick TV competing for a format research firm Omdia expects to generate $14 billion globally by the end of 2026.
• A legacy Hollywood studio directly backing a mobile-first Indian serial platform signals that major media companies see snackable, vertical-video storytelling as core infrastructure for the next billion internet users, not a niche trend.