EloElo Group, the Bengaluru‑based consumer AI and entertainment firm behind the micro‑drama platform Story TV, announced an $80 million Series C financing led by Hornbill Capital and NBCUniversal.
Funding round details
The round, which also included MIT Investment Co., Play Ventures, Kalaari Capital, Waterbridge Ventures, Griffin Gaming Partners and other existing backers, valued the company at $500 million, roughly five times its April 2025 valuation. The financing lifts EloElo’s total capital raised to $130 million.
Company background
Founded in 2020 by former Flipkart executive Saurabh Pandey, EloElo operates Story TV, a micro‑drama service offering more than 5,000 short dramas in six Indian languages. The platform releases a new drama every three hours and records about 95 minutes of daily viewing per user.
Planned use of funds
According to Pandey, the capital will fund original content in additional local languages, support the international launch of its micro‑dramas, and further develop Dolphin AI, the firm’s proprietary agentic AI creative suite. The company also runs Master, a micro‑learning app, and Voxy AI, an AI companion agent.
Strategic outlook
EloElo reported over 40 million monthly active users across its apps. Pandey said the firm’s control of content creation, distribution and AI integration positions it to reshape mobile entertainment economics. Hornbill Capital’s Manoj Thakur highlighted the company’s blend of creative capability and scalable technology.
Where the company stands
EloElo Group now holds a $500 million valuation and a robust AI‑driven content pipeline, aiming to expand its multilingual portfolio and enter global markets.
Why it matters: The infusion of $80 million enables EloElo to broaden AI‑generated storytelling in regional languages, a sector poised for growth in the Middle East and Egypt where mobile video consumption is rising and demand for localized, affordable content is high.