Led by Hornbill Capital and NBCUniversal, the $80 million infusion brings EloElo's total fundraising to $130 million. The company's microdrama application, Story TV, boasts over 33 million active users who spend an average of 95 minutes daily watching mobile shows. To maintain this traction, EloElo is partnering with established production houses like Balaji Telefilms and leveraging its proprietary DolphinTV platform to streamline editing, templates, and generative media production.
Key points
Microdrama platforms face monetization challenges because 72% of consumers have never pai…: Microdrama platforms face monetization challenges because 72% of consumers have never paid for this type of content.
EloElo combines generative artificial intelligence tools with human direction to accelera…: EloElo combines generative artificial intelligence tools with human direction to accelerate storytelling and digital content production workflows.
Viewers spend an average of 95 minutes per day consuming serialized mobile series on the…: Viewers spend an average of 95 minutes per day consuming serialized mobile series on the company's dedicated application.
Sources checked by our analysis pipeline: 1
More than 118 million users watch microdramas every month as the serialized format has taken off in India. EloElo’s Story TV is one of the top apps for microdramas, with over 33 million active users, according to analysts.
Banking on that scale, the company has raised $80 million in Series C from Hornbill Capital and NBCUniversal. This round brings its total fundraising to $130 million, with a valuation of $500 million.
As people spend more time on platforms hosting verticalized videos, serialized content has become popular in multiple geographies, including the U.S., China, and India, with Hollywood celebrities like Issa Rae, James Franco, and Kim Kardashian investing in and starring in the format.
Given India’s massive internet population of more than a billion and the country’s appetite for entertainment content, it presents a big market opportunity, with analysts expecting the industry to cross $3-$4 billion in annual revenue by 2030. Last year, dedicated apps like Story TV, Kuku TV, and Quick TV were among the top downloaded video streaming apps in the country.
Escalating production costs driven by well-funded international streaming services have severely strained domestic broadcasters, forcing local channels to sharply reduce their scripted lineups. A united front of twelve entertainment organizations is now demanding state intervention to sustain the country's television ecosystem. The downturn threatens to erode the broader creative sector as advertising revenues fail to keep pace with soaring project budgets.
The fresh capital injection will support the Indian platform as it capitalizes on surging consumer demand for short-form entertainment. Backing from a major global media powerhouse alongside institutional investors highlights growing international confidence in regional microdrama formats. This substantial valuation reflects the platform's ability to engage tens of millions of viewers rapidly.
Brokerage projections indicate that strong consumer demand across core retail divisions will drive robust operational earnings for the consumer discretionary major. Multiple analysts expect double-digit revenue expansions alongside widening margins to push net profits sharply higher year-on-year. Investors remain attentive to whether auxiliary brand momentum and jewellery profitability can maintain this trajectory without disruption from inventory adjustments.