NBCUniversal and India-focused investment firm Hornbill Capital have jointly led an $80 million Series C funding round in EloElo Group, a Bengaluru-based media technology company. MIT Investment Co. participated alongside existing investors including Play Ventures, Kalaari Capital, Waterbridge Ventures and Griffin Gaming Partners. The funding brings EloElo’s cumulative capital raised to $130 million, with Avendus Capital serving as financial advisor on the transaction.
EloElo operates Story TV, a microdrama platform available in six languages that hosts over 5,000 titles and releases new content every three hours. The platform reports users spend an average of 95 minutes daily on the app. Beyond Story TV, the EloElo Group portfolio includes Master, a micro learning application; Voxy AI, an AI companion service; and Dolphin AI, a recently launched creative suite powered by artificial intelligence. Combined, the group’s applications have accumulated more than 40 million monthly active users and surpassed 300 million total installations.
The company was established in 2020 by CEO Saurabh Pandey, formerly an executive at Flipkart. Pandey stated the funding will support expansion of original programming in regional languages, international market entry for its microdramas, and continued development of Dolphin AI technology. The company reported that revenue multiplied over the previous year, with executives citing efficient unit economics as a key success factor.
Industry analysts project substantial growth in the microdrama sector, with research firm Omdia forecasting the global market will generate $14 billion by the conclusion of this year. Redseer estimates 40 million Indians purchased at least one microdrama during fiscal 2026, while Lumikai projects India’s microdrama market will reach $4.5 billion by 2030.
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