EloElo Group Secures $80M Series C Funding to Scale AI-Driven Microdrama Platform Globally

EloElo Group Closes $80 Million Series C Funding Round

EloElo Group has secured $80 million in Series C funding led by Hornbill Capital and NBCUniversal, marking a significant milestone for the Bengaluru-based AI entertainment company.1

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The round also attracted participation from MIT Investment Co. and existing investors including Play Ventures, Kalaari Capital, Waterbridge Ventures, and Griffin Gaming Partners.2

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This latest injection brings the company's total capital raised to $130 million since its founding in 2020 by former Flipkart executive Saurabh Pandey.1

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Story TV Leads AI-Driven Entertainment Ecosystem

At the heart of EloElo Group's operations sits Story TV, India's leading microdrama platform boasting over 5,000 micro-dramas across six languages.1

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The platform demonstrates remarkable engagement metrics, with users spending an average of 95 minutes daily consuming content, and a new drama launching every three hours.1

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Across its portfolio of apps, which includes Master (a micro-learning platform), Dolphin AI (an agentic AI creative suite), and Voxy AI (an AI companion agent), EloElo Group commands over 40 million monthly active users and has accumulated more than 300 million installs.2

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Dolphin AI Powers Production at Scale

The company plans to double down on Dolphin AI, its recently launched AI-powered production engine that enables the creation of videos, images, and longer-form AI content including films.2

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Currently, 8-10 members of EloElo's approximately 200-person team work on Dolphin AI, with plans to expand hiring across data science, generative AI, engineering, and computer infrastructure teams.2

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Saurabh Pandey explained that the company's strategy centers on controlling three critical layers: intellectual property, AI-powered production infrastructure, and content distribution.2

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This approach has enabled the company to achieve profitable unit economics while recording multi-fold revenue growth over the past year.1

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Original Content and Global Expansion Plans

The fresh capital will fund new original content across multiple Indian languages, with a sharper focus on premium originals created in partnership with established production studios.2

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EloElo currently collaborates with over 90 production studios, including prominent Indian production house Balaji Telefilms.2

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The company also plans to experiment with AI-generated and hybrid microdramas as it deepens its content slate.2

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International expansion represents another key priority, with Story TV set to launch in new markets. Pandey indicated the company would identify target markets and work with local talent pools as part of this global expansion strategy, with NBCUniversal's support extending to the U.S. market.1

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Microdrama Market Poised for Explosive Growth

The timing of this Series C funding aligns with surging interest in the microdrama format globally. According to Omdia, the global microdrama industry is expected to generate $14 billion by the end of 2026.1

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In India specifically, Redseer estimates that 40 million people paid for a microdrama at least once in FY26, while Lumikai's State of India Interactive Media Report projects the market to reach $4.5 billion by 2030.1

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Manoj Thakur, founder and managing partner at Hornbill Capital, emphasized the company's unique position: "EloElo Group combines strong creative capabilities with the ability to scale content through technology. The team's execution, financial discipline, and AI capabilities position it well for its next phase of growth."1

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NBCUniversal's Deepak Arya added that the company sees "significant opportunity in mobile-first storytelling and emerging formats like micro dramas to engage audiences and meet evolving viewing habits."1

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