Indian consumer AI firm EloElo secures $80 million in series C funding
EloElo Group, the developer behind the Story TV micro-drama app, has raised $80 million in a series C funding round to scale its AI platform and expand its content library.
India-based EloElo Group has closed an $80 million series C financing round led by Hornbill Capital and NBCUniversal. The investment brings the company’s total cumulative funding to $130 million.
Founded in 2020 by former Flipkart executive Saurabh Pandey, the company specializes in consumer AI and entertainment software. Its portfolio includes the micro-drama app Story TV, the educational platform Master, and the AI-driven companion app Voxy AI. The firm reports a user base of more than 40 million monthly active users across its applications.
EloElo stated that the new capital will support the production of original content in multiple languages, facilitate international market expansion, and fund further development of its Dolphin AI platform. The company operates in a sector currently seeing increased competition in India, with rivals such as Kuku TV also vying for viewership in the short-form drama category.