From The Economic Times · ET Bureau · · 1m 20s
EloElo Group Raises $80M in Series C Funding
EloElo Group secures $80 million Series C funding led by Hornbill Capital and NBCUniversal to expand its AI-powered micro-drama platform Story TV globally.
In brief
EloElo Group secures $80 million Series C funding led by Hornbill Capital and NBCUniversal to expand its AI-powered micro-drama platform Story TV globally. EloElo Group raised $80 million in Series C funding to scale its AI-led entertainment ecosystem with Story TV, India’s top micro-drama platform. Originally…
Funding Round Announcement
EloElo Group raised $80 million in Series C funding led by Hornbill Capital and NBCUniversal.
Investors and Capital Raised
MIT Investment Co. and existing investors Play Ventures, Kalaari Capital, Waterbridge Ventures, Griffin Gaming Partners also participated in the round.
Story TV Platform Details
Story TV is India’s No. 1 micro-drama platform with over 5,000 micro-dramas across six languages.
User Engagement Metrics
Users spend an average of 95 minutes on Story TV every day, according to the company.
User Base and Other Platforms
EloElo Group has over 40 million monthly active users across its apps and operates Master and Voxy AI.
Business Model and Growth
The company recorded multi-fold revenue growth and scaled with profitable unit economics.
CEO Vision
Founder Saurabh Pandey aims to build an AI-powered entertainment ecosystem for the next billion viewers.
Market Projections
The micro-drama market is expected to reach $14 billion globally by 2026 and $4.5 billion in India by 2.030.
The key point
EloElo Group raised $80 million in Series C funding to scale its AI-led entertainment ecosystem with Story TV, India’s top micro-drama platform.
