EloElo Group Raises $80 Million to Expand Microdrama Business

EloElo Group, the parent company of microdrama streaming platform Story TV, has raised $80 million in a Series C funding round led by Hornbill Capital and NBCUniversal, marking a significant investment in India’s emerging mobile entertainment industry.

The company plans to use the fresh capital to develop original content across multiple languages, support the international launch of its micro drama platform Story TV and expand its investment in Dolphin AI, its agentic AI-powered creative suite.

Story TV Expands Its Digital Entertainment Content

EloElo Group operates Story TV, a mobile-first entertainment platform focused on microdramas, alongside Master, Dolphin AI and Voxy AI. Story TV offers more than 5,000 microdramas across six languages, with the platform introducing a new drama approximately every three hours.

The company reported more than 40 million monthly active users across its applications, reflecting growing demand for short-form, episodic entertainment among mobile audiences.

The latest funding is expected to strengthen Story TV’s original content library, particularly in Hindi, Tamil, Telugu and other regional languages. The company plans to develop a combination of live-action, AI-generated and hybrid productions to broaden its storytelling formats and audience reach.

EloElo Group Founder and CEO Saurabh Pandey said the funding would help the company deepen its content offerings, expand its microdrama business into international markets and strengthen its AI capabilities.

AI Reshapes Microdrama Production

The investment also highlights the growing role of artificial intelligence in digital content production. EloElo Group is developing Dolphin AI as an agentic AI creative suite to support its entertainment production workflows.

By integrating AI into content creation, the company aims to improve production efficiency and scale its original programming while maintaining cost discipline. The combination of technology, content creation and distribution forms a central part of its entertainment business model.

The company’s international expansion plans include exploring markets such as the United States, alongside other regions in Asia and Europe. The strategy is expected to target both diaspora audiences and local-language viewers.

NBCUniversal’s participation in the funding round also reflects increasing investor interest in mobile-first storytelling and emerging entertainment formats.

Deepak Arya, Executive Vice President of Corporate Strategy and Development at NBCUniversal, said the company sees significant opportunities in mobile-first storytelling and emerging formats such as microdramas to engage audiences and address evolving viewing habits.

Also Read: Eloelo raises 13.5M USD Series B for multilingual live social platform

EloElo Group Faces Competition in Micro Learning and Micro Dramas

EloElo Group operates in an increasingly competitive short-form entertainment and learning market.

Its micro learning platform Master competes with Seekho, which is backed by Bessemer Venture Partners and Lightspeed and raised $28 million in a series B in September 2025.

In the micro drama segment, Story TV competes with Kuku TV and ShareChat's Quick TV. Flipkart has also entered the category, while Pocket FM has re-entered the market with Pocket Saga after shutting down Pocket TV.

With the latest funding, EloElo Group plans to strengthen its original content pipeline, expand Story TV internationally and develop its AI-powered creative capabilities as it scales its consumer entertainment portfolio.