India's EloElo Raises $80 Million in Series C Led by NBCUniversal to Expand Microdrama Platform
Indian entertainment startup EloElo has secured $80 million in a Series C funding round led by Hornbill Capital and NBCUniversal. This latest injection brings the company's total fundraising to $130 million, valuing the firm at $500 million. The capital is earmarked for expanding its 'Story TV' platform, which specializes in serialized microdramas designed for mobile consumption. The investment highlights a growing trend in short-form, verticalized storytelling across India, China, and the U.S. While EloElo boasts 33 million active users and high engagement levels, it faces significant monetization hurdles common in the Indian market, where many consumers prefer free content over subscriptions. To combat this, the company is leveraging AI through its DolphinTV tool to streamline video production and improve content workflows.
Topics: Digital Entertainment Microdramas Series C funding Startup Valuation