Business · Companies · 3 hrs ago
EloElo raises $80 million to expand Story TV microdramas
Bengaluru-based EloElo Group raised $80 million in a Series C funding round co-led by NBCUniversal and Hornbill Capital.
The company, founded in 2020 by former Flipkart executive Saurabh Pandey, runs Story TV, a mobile platform for short, serialized dramas.
Story TV offers more than 5,000 dramas in six languages, and EloElo says its apps have more than 40 million monthly active users combined.
The company will use the funding to make more original content in Indian languages and develop its Dolphin AI creative tools.
EloElo also plans to take Story TV overseas, with NBCUniversal citing the U.S. as one possible market.
The expansion comes as microdramas gain audiences in India and elsewhere, but platforms must compete with free video services and persuade viewers to pay.
EloElo has raised $80 million in a Series C round co-led by NBCUniversal and Hornbill Capital.
The Bengaluru-based company operates Story TV, a mobile microdrama platform with more than 5,000 titles in six languages.
The funding brings EloElo’s total fundraising to $130 million; TechCrunch reported a valuation of $500 million.
EloElo plans to use the money for local-language original programming, an overseas launch for its microdramas and development of its Dolphin AI creative suite.
Story TV users spend an average of 95 minutes a day on the app, according to EloElo.
- Who
- EloElo, the company behind Story TV, raised the funding. NBCUniversal and Hornbill Capital co-led the round.
- What
- EloElo raised $80 million in Series C funding.
- When
- November 4, 2026.
- Where
- EloElo is based in Bengaluru, India. The company plans to expand its microdramas beyond India, including into the U.S.
- Why
- The company plans to fund local-language original programming, an overseas launch for its microdramas and further development of Dolphin AI.
This story does not have two clearly opposing sides.
Saurabh Pandey founded EloElo.
EloElo announced an $80 million Series C round co-led by NBCUniversal and Hornbill Capital.
- Series C funding
- $80 million
- Total fundraising
- $130 million
- Reported valuation
- $500 million, according to TechCrunch
- Story TV catalogue
- More than 5,000 microdramas in six languages
- Story TV average daily use
- 95 minutes per user
- EloElo apps
- More than 40 million monthly active users combined and over 300 million installs
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What people are saying
At NBCUniversal, we see significant opportunity in mobile-first storytelling and emerging formats like microdramas to engage audiences and meet evolving viewing habits.
A billion people now reach for the phone before any other screen, and the entertainment built for them will be video first, in their own language, in episodes that fit their day.
I fundamentally believe that the next billion users will probably not grow up on a diet of watching television; they will grow up on a diet of watching content on their phones, right?
EloElo Group combines strong creative capabilities with the ability to scale content through technology, which is something we deeply believe in.