India-based EloElo Group, the consumer AI and entertainment company behind micro-drama app Story TV, said it raised US$80 million in a series C round led by Hornbill Capital and NBCUniversal, bringing total funding to US$130 million.

MIT Investment Co. and existing investors including Play Ventures, Kalaari Capital, Waterbridge Ventures, and Griffin Gaming Partners also joined the round.

Founded in 2020 by former Flipkart executive Saurabh Pandey, EloElo said its apps, including Story TV, learning app Master, Dolphin AI, and AI companion app Voxy AI, have more than 40 million monthly active users.

The company said it would use the funding to produce original content in multiple languages, expand internationally, and invest further in Dolphin AI.

Micro-dramas are gaining traction in India. Rival Kuku TV offers short drama series.

NBCUniversal News Group invested in short-form mobile video startup NowThis News in 2014.

🔗 Source: EloElo