Bengaluru, November 4, 2026: Bengaluru-based EloElo Group, a consumer AI and entertainment company has raised $80 million in a Series C funding round as it looks to scale its micro drama business, expand original content production and take its entertainment platform Story TV to international markets, including the US.
The company plans to deploy the fresh capital towards developing premium original shows across multiple languages, strengthening Story TV’s international presence and expanding its creative suite, Dolphin.
Founded in 2020 by former Flipkart executive Saurabh Pandey, EloElo Group operates across entertainment, micro learning and digital content. Its portfolio includes Story TV, Master, Dolphin and Voxy. While Story TV focuses on short-format scripted entertainment, Master offers micro learning content.
Story TV currently hosts more than 5,000 micro dramas across six languages, with a new title launching every three hours. The company claims users spend an average of 95 minutes daily on the platform, indicating strong engagement with the emerging short-format entertainment category.
Across its applications, EloElo Group has built a base of over 40 million monthly active users and crossed 300 million installs. The company also controls its content, distribution and production capabilities, giving it greater control over how shows are developed, delivered and monetised.
The consumer AI and entertainment group has also reported multi-fold revenue growth over the past year and said it has scaled its business with profitable unit economics. The company began monetising its platforms in May 2024. In FY25, it reported revenue of Rs 69.5 crore, while losses remained largely flat. Its FY26 financial results are yet to be filed.
The latest round takes consumer AI and entertainment Group’s total funding to $130 million, including a $13.5 million Series B round raised in April 2025.
Micro dramas draw bigger bets – EloElo
EloElo‘s latest fundraise comes at a time when micro dramas are gaining traction as a distinct entertainment format, particularly among mobile-first audiences. Short, episodic stories, quick viewing formats and frequent content releases are attracting both consumers and companies looking to build new entertainment businesses.
According to Omdia, the global micro drama industry is expected to generate $14 billion by the end of 2026. In India, Redseer estimates that 40 million people paid for a micro drama at least once in FY26. Lumikai’s State of India Interactive Media Report projects the domestic market to reach $4.5 billion by 2030.
The consumer AI and entertainment group plans to tap this growth by increasing its investment in premium originals, expanding its content catalogue and taking Story TV to overseas markets. Its proposed US expansion will put it in competition for audiences in a market where short-form scripted entertainment is gaining ground.
The company is also operating in an increasingly competitive domestic landscape. In micro learning, Master competes with Seekho, which counts Bessemer Venture Partners and Lightspeed among its backers and raised $28 million in a Series B round last September.
In micro dramas, Story TV faces competition from Kuku TV and ShareChat’s Quick TV. Flipkart has also entered the category with short-form content on its platform, while Pocket FM has returned to the segment with Pocket Saga after shutting down Pocket TV.
The $80 million Series C round was led by Hornbill Capital and NBCUniversal, with participation from MIT Investment Co. Existing investors Play Ventures, Kalaari Capital, Waterbridge Ventures, Griffin Gaming Partners and others also participated.
The funding gives the consumer AI and entertainment group additional capital to strengthen its content pipeline, expand its international footprint and compete for a larger share of the growing micro drama market.
