Key Takeaways
- • EloElo Group, parent of microdrama platform Story TV, raised $80 million in its latest funding round, according to the company, with NBCUniversal and MIT Investment Co among the backers.
- • The round values the Indian startup at $500 million, according to a person with direct knowledge of the matter cited by Reuters.
- • Hornbill Capital and NBCUniversal led the round, with MIT Investment Co, Play Ventures, Kalaari Capital, Waterbridge Ventures and Griffin Gaming Partners also participating.
- • EloElo has raised $130 million in total capital to date, including this round, per the company.
- • Proceeds will fund original content, international expansion of microdramas, and further investment in Dolphin AI, its in-house agentic AI creative suite.
Summary
India's EloElo Group, the parent company of microdrama platform Story TV, said on Wednesday that US entertainment group NBCUniversal and MIT Investment Co were among the investors backing its latest funding round of $80 million, according to Reuters. The round was led by Hornbill Capital and NBCUniversal. Play Ventures, Kalaari Capital, Waterbridge Ventures and Griffin Gaming Partners also participated, the company said.
A person with direct knowledge of the matter told Reuters that the funding values the startup at $500 million. EloElo has raised $130 million in total capital so far, including this round, the company said.
The company said it will use the proceeds to produce new original content, launch its microdramas internationally and invest further in Dolphin AI, its in-house agentic AI creative suite. The raise comes as microdramas are emerging as one of the fastest-growing forms of content globally. Research and advisory group Omdia projects the sector will generate $14 billion in worldwide revenue by the end of 2026.
A person with direct knowledge of the matter told Reuters that the funding values the startup at $500 million. EloElo has raised $130 million in total capital so far, including this round, the company said.
The company said it will use the proceeds to produce new original content, launch its microdramas internationally and invest further in Dolphin AI, its in-house agentic AI creative suite. The raise comes as microdramas are emerging as one of the fastest-growing forms of content globally. Research and advisory group Omdia projects the sector will generate $14 billion in worldwide revenue by the end of 2026.
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