EloElo Group, the Indian company behind the mobile microdrama platform Story TV, said Wednesday that it raised $80 million in a Series C funding round co-led by NBCUniversal and Hornbill Capital.
MIT Investment Co., Play Ventures, Kalaari Capital, Waterbridge Ventures and Griffin Gaming Partners also participated, according to the company. The financing brings EloElo’s total capital raised to about $130 million.
The Bengaluru-based company said it plans to use the money to produce more original programming, expand Story TV into international markets including the United States and invest further in Dolphin AI, its in-house creative-production system.
Story TV specializes in short, serialized dramas designed for mobile viewing. Founder Saurabh Pandey said the company is seeking to expand premium original content while building a broader entertainment and consumer-AI business.
The investment gives NBCUniversal a position in a rapidly growing short-form video category. Research cited in the reporting estimates that microdramas could generate about $14 billion in worldwide revenue by the end of 2026, though forecasts for a developing market remain uncertain.
EloElo was founded in 2020 and operates additional products alongside Story TV. The company has described artificial intelligence as a production aid for scripting, editing and other workflow tasks rather than a substitute for performers.
The funding announcement did not disclose detailed ownership percentages for the new investors. A person familiar with the transaction said the round valued EloElo at about $500 million, but the company did not publicly confirm that figure in its announcement.
The round links a major U.S. entertainment company with an Indian platform that is preparing a broader international expansion. Execution will depend on Story TV’s ability to attract subscribers and build a sustainable library of short-form programming in markets where viewing habits and competition differ.
Sources: - Reuters: https://www.reuters.com/business/media-telecom/nbcuniversal-mit-investment-join-indian-microdrama-firms-80-million-funding-2026-11-04/ - Moneycontrol: https://www.moneycontrol.com/news/business/funding/eloelo-group-raises-80-million-led-by-hornbill-capital-nbcuniversal-to-fuel-microdrama-consumer-ai-ambitions-14068748.html