EloElo raises $80 million from Hornbill and NBCUniversal to take microdrama app Story TV global
The Bengaluru group behind Story TV says the Series C takes its total funding to $130 million.
- Series C: $80M; total raised $130M
- Co-leads: Hornbill Capital, NBCUniversal
- Story TV: 33M+ monthly users (Sensor Tower)
The round
EloElo Group raised $80 million in a Series C round co-led by Hornbill Capital and NBCUniversal, bringing total capital raised to $130 million. MIT Investment Co. joined, as did existing investors Play Ventures, Kalaari Capital, Waterbridge Ventures and Griffin Gaming Partners.
The company runs the Story TV microdrama platform and an AI creative platform called Dolphin. Press reports put its valuation at about $500 million, but the company has not confirmed that.
Where the money goes
Reports say the funds will back original content in local languages, expansion into international markets, including the US with NBCUniversal's help, and its AI tools. Reports cite more than 33 million monthly active users for Story TV (Sensor Tower) and more than 40 million across all four of its apps.
