Consumer AI and entertainment company EloElo Group has raised $80 million in a Series C funding round led by Hornbill Capital and NBCUniversal, as it looks to strengthen its position in the rapidly expanding micro drama and AI-powered entertainment market.
The funding round also saw participation from MIT Investment Co. and existing investors, including Play Ventures, Kalaari Capital, Waterbridge Ventures and Griffin Gaming Partners, among others.
The fresh capital will support the company’s original content development across multiple languages, the international expansion of its micro drama platform Story TV and further investments in Dolphin AI, its agentic AI creative suite.
Founded in 2020 by former Flipkart executive Saurabh Pandey, EloElo Group operates across consumer entertainment, micro learning and artificial intelligence through its platforms Story TV, Master, Dolphin AI and Voxy AI.
Story TV Drives the Company’s Micro Drama Expansion
Story TV is one of EloElo Group’s key businesses, offering short-form scripted entertainment through micro dramas designed for mobile-first audiences.
According to the company, the platform hosts more than 5,000 micro dramas across six languages, with a new drama launched every three hours. Story TV also records an average daily time spent of 95 minutes per user, highlighting audience engagement with the format.
The company plans to use part of the new funding to expand its content library, with a focus on premium original productions. It also intends to take Story TV into international markets, including the United States.
EloElo Expands Its AI-Powered Entertainment Ecosystem
Beyond micro dramas, EloElo Group is building a broader consumer technology ecosystem through its other platforms.
Its portfolio includes Master, a micro-learning platform; Dolphin AI, an agentic AI creative suite; and Voxy AI, an AI companion agent.
The company operates its content, distribution and AI-powered production infrastructure as part of an integrated entertainment business. This approach is intended to strengthen its ability to develop, produce and distribute content while expanding the use of AI across creative workflows.
The latest funding will enable EloElo to accelerate investments in Dolphin AI as it explores opportunities in AI-assisted content creation and production.
Across its applications, the company reports more than 40 million monthly active users and over 300 million cumulative installs.
Total Funding Reaches $130 Million
With the latest Series C round, EloElo Group’s total capital raised has reached approximately $130 million.
The company had previously raised $13.5 million in a Series B funding round in April 2025, led by Play Ventures.
EloElo also reported multi-fold revenue growth over the past year and said it has scaled its operations with profitable unit economics.
The company began monetising its platforms in May 2024. According to its FY25 financial filings, it generated revenue of ₹69.5 crore during the financial year, while its losses remained largely flat. Its FY26 financial results are yet to be filed.
Micro Drama Market Attracts Growing Investor Interest
The funding comes at a time when micro dramas are gaining traction as a distinct entertainment format across global markets.
According to Omdia, the global micro drama industry is expected to generate $14 billion in revenue by the end of 2026. In India, Redseer estimates that 40 million people paid for a micro drama at least once during FY26.
Lumikai’s State of India Interactive Media Report projects India’s micro drama market to reach $4.5 billion by 2030.
The growth is attracting companies across entertainment, gaming and digital content, as platforms experiment with short episodic storytelling and mobile-first viewing experiences.
Competition Intensifies in India’s Micro Drama and Learning Segments
EloElo Group operates in an increasingly competitive market.
In the micro drama segment, Story TV competes with platforms such as Kuku TV and ShareChat’s Quick TV. Flipkart has also entered the segment with short-form content on its application, while Pocket FM has re-entered the space with Pocket Saga after shutting down Pocket TV.
In the micro-learning category, EloElo’s Master competes with Seekho, which is backed by Bessemer Venture Partners and Lightspeed and raised $28 million in a Series B funding round.
The growing participation of established digital platforms and venture-backed startups reflects the increasing interest in short-form, mobile-first content and specialised entertainment experiences.
Building for the Next Phase of Digital Entertainment
EloElo Group’s latest funding marks a significant step in its ambition to build an integrated consumer entertainment and AI ecosystem.
By combining original content production, distribution platforms and AI-powered creative tools, the company is looking to strengthen its position in the evolving digital entertainment landscape.
Its plans to expand Story TV internationally, develop premium content across languages and invest further in Dolphin AI will be central to its next phase of growth.
As competition intensifies and consumer preferences continue to evolve, EloElo’s ability to scale its content library, retain audiences and build sustainable monetisation models will be important to its long-term growth.
About EloElo Group
Founded in 2020 by Saurabh Pandey, EloElo Group is a Bengaluru-based consumer AI and entertainment company operating Story TV, Master, Dolphin AI and Voxy AI. Its businesses span micro dramas, micro learning, AI-powered creative tools and AI companion experiences. The company aims to build an integrated entertainment ecosystem combining content ownership, distribution and artificial intelligence.
By : Vanshika Tayal
