EloElo raises $80 million to expand Indian microdrama platform
Indian entertainment company EloElo has secured $80 million in Series C funding from NBCUniversal and Hornbill Capital, valuing the firm at $500 million.
EloElo has closed an $80 million Series C funding round led by NBCUniversal and Hornbill Capital. The infusion of capital brings the company’s total fundraising to $130 million and establishes a valuation of $500 million for the India-based firm.
The company operates Story TV, a platform focused on serialized microdrama content. Analysts report that the app maintains over 33 million active users, tapping into a broader trend in India where approximately 118 million users watch vertical-format serialized videos each month.
The investment highlights the significant growth potential of the Indian interactive media sector. Forecasts suggest the industry could generate between $3 billion and $4 billion in annual revenue by 2030. This format has gained traction globally, attracting interest from major entertainment entities as content consumption shifts toward short-form mobile video.