Bengaluru-based consumer AI and entertainment company EloElo Group has raised $80 million funding in a Series C round led by Hornbill Capital and NBCUniversal. The round also saw participation from MIT Investment Co. and existing investors, including Play Ventures, Kalaari Capital, Waterbridge Ventures and Griffin Gaming Partners.
Key Highlights
- EloElo Group raises $80 million funding in Series C round led by Hornbill Capital and NBCUniversal, taking total funding to $130 million.
- The company plans to expand Story TV internationally, develop original content and strengthen its agentic AI creative suite.
The company plans to use the fresh capital to develop original content across multiple languages, support the international launch of its micro drama platform Story TV and expand its investment in Dolphin AI, its agentic AI-powered creative suite.
EloElo Group Raises $80 Million to Expand AI and Entertainment Businesses
Founded in 2020 by former Flipkart executive Saurabh Pandey, EloElo Group operates across consumer entertainment, micro learning and artificial intelligence. Its portfolio includes Story TV, a micro drama platform; Master, a micro learning platform; Dolphin AI; and Voxy AI, an AI companion agent.
Story TV currently offers more than 5,000 micro dramas across six languages, with a new drama released every three hours. According to the company, users spend an average of 95 minutes on the platform daily.
EloElo Group operates its content, distribution and AI-powered production infrastructure across its entertainment business. Its apps collectively have more than 40 million monthly active users and have recorded over 300 million installs.
EloElo Funding Takes Total Capital Raised to $130 Million
The latest Series C round takes EloElo Group's total funding to approximately $130 million. This includes a $13.5 million Series B round raised in April 2025, led by Play Ventures.
The company said it recorded multi-fold revenue growth over the past year while scaling its operations with profitable unit economics. EloElo began monetising its business in May 2024.
According to its FY25 financial results, the company generated revenue of Rs 69.5 crore, while its losses remained largely flat. Its FY26 financial statements are yet to be filed.
Story TV Expansion Targets International Micro Drama Market
A key focus of the latest funding is the expansion of Story TV into international markets, including the United States. EloElo Group also plans to strengthen its content catalogue through premium original productions across languages.
The expansion comes as micro dramas gain traction in the global entertainment market. According to reports, the segment is expected to generate $14 billion in global revenue by the end of 2026.
Also Read: Startup Funding Report: 28 Firms Raise $115 Mn in the Latest Week
EloElo Group Faces Competition in Micro Learning and Micro Dramas
EloElo Group operates in an increasingly competitive short-form entertainment and learning market.
Its micro learning platform Master competes with Seekho, which is backed by Bessemer Venture Partners and Lightspeed and raised $28 million in a Series B round in September 2025.
In the micro drama segment, Story TV competes with Kuku TV and ShareChat's Quick TV. Flipkart has also entered the category, while Pocket FM has re-entered the market with Pocket Saga after shutting down Pocket TV.
With the latest funding, EloElo Group plans to strengthen its original content pipeline, expand Story TV internationally and develop its AI-powered creative capabilities as it scales its consumer entertainment portfolio.
