India-based EloElo, whose Story TV microdrama app has 33M+ estimated active users, raised an $80M Series C from Hornbill Capital and NBCU at a $500M valuation (Ivan Mehta/TechCrunch)
India-based digital media firm EloElo operates the microdrama app Story TV, which has rapidly amassed an estimated active audience exceeding 33 million users. Following this ongoing audience expansion, the company secured an $80 million Series C financing round. The new investment, supported by Hornbill Capital and NBCUniversal, establishes EloElo's valuation at $500 million.
Key points
International entertainment giants like NBCUniversal are investing directly into India's…: International entertainment giants like NBCUniversal are investing directly into India's microdrama sector.
Massive audience adoption has propelled Story TV past the thirty-three million active use…: Massive audience adoption has propelled Story TV past the thirty-three million active user threshold.
The latest capital infusion positions EloElo at a substantial half-billion-dollar valuati…: The latest capital infusion positions EloElo at a substantial half-billion-dollar valuation.
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