EloElo Group Bags $80 Mn From NBCUniversal, Others To Take Its Microdrama Biz Global

Microdrama platform Story TV’s parent EloElo Group has raised $80 Mn (nearly ₹756 Cr) in a Series C funding round led by global media and entertainment giant NBCUniversal and Hornbill Capital.

The round also saw participation from MIT Investment Co. and existing backers including Play Ventures, Kalaari Capital, Waterbridge Ventures and Griffin Gaming Partners, among others.

The company will use the fresh capital to invest in premium original content across Indian languages, expand Story TV to international markets and strengthen its AI capabilities through Dolphin AI, its recently launched AI creative suite.

Founded in 2020 by former Flipkart executive Saurabh Pandey, EloElo Group operates four products — Story TV (microdrama platform), Master (microlearning platform) Dolphin AI (an AI-powered creative suite) and Voxy AI (an AI companion agent).

Story TV remains the company’s largest product, with over 5,000 microdramas across six languages. Across its portfolio of apps, EloElo Group claims to have over 40 Mn monthly active users and more than 300 Mn installs.

Speaking to Inc42, Pandey said the company plans to deepen its premium content slate by working with established production studios and experimenting with AI-generated and hybrid microdramas. It currently works with over 90 production studios, including Indian production house Balaji Telefilms.

The company also plans to take Story TV to international markets. Pandey further said the company would identify markets and work with local talent pools as part of the expansion.

Another focus area will be Dolphin AI, which allows users to generate videos, images and longer-form AI content, including films. EloElo currently has a team of around 200 people, of which 8-10 work on Dolphin AI. The fresh capital will support hiring across data science, generative AI, engineering and computer infrastructure teams.

Pandey said EloElo’s strategy is to control three layers of the entertainment value chain: intellectual property, AI-powered production infrastructure and content distribution. 

With the latest fundraise, EloElo Group has raised $130 Mn to date.

The funding comes amid growing interest in the microdrama format. According to a report, the global microdrama industry is expected to generate $14 Bn in revenue by the end of 2026..

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