FundingConsumer Internet & Media
EloElo raises $80M Series C for microdramas
By Abha Lohia · Editor ·
Eloelo: funding and every story →
Series CBengaluruFounded 2020
- EloElo Group runs the Story TV microdrama app, a micro-learning app called Master, and AI tools including Dolphin AI
- Hornbill Capital and NBCUniversal led the $80 million Series C, with MIT Investment Co. and earlier backers also joining the round
- The money will pay for original shows in many languages, Story TV's launch abroad, and more work on its AI creative suite
What happened
- EloElo Group raised $80 million in a Series C round.
- Hornbill Capital and NBCUniversal led the round.
- MIT Investment Co. joined, along with existing backers like Play Ventures and Kalaari Capital.
- Funds go to original content, the overseas launch of Story TV, and Dolphin AI.
- Total capital raised now stands at about $130 million.
Why it matters
- Short vertical dramas are a fast-growing way to watch video on phones.
- A media giant as lead investor helps the company's push into the US.
The business
- EloElo Group was founded in 2020 in Bengaluru.
- Story TV hosts over 5,000 microdramas in six languages.
- Master is a micro-learning app.
- Dolphin AI is an agentic creative suite for making content.
- Voxy AI is an AI companion agent.
- The apps have over 40 million monthly users and 300 million installs.
The founders
- Former Flipkart executive
Who put in money
- Hornbill Capital lead
- NBCUniversal lead
In numbers
40 million+Monthly active users · 2026
$130MTotal raised · 2026
What happens next
- Launch Story TV outside India
- Expand Dolphin AI
Earlier rounds
- Series B: $13.5M, April 2025
- Series C: $80M, 2026
Words to know
- Microdrama
- A very short episodic video drama made for phone viewing.
The numbers around it
Eloelo has 2 funding rounds in StopDown's archive, $130M raised in all.
| When | Round | Amount | Led by |
|---|---|---|---|
| 26 October 2026 | Round | $50-60M | Hornbill Capital |
Other articles talking about it
Terms in this story
- Funding stage: Startups raise money in steps called funding stages: pre-seed, seed, Series A, B, C and later, ending in a listing or a sale. Each step is larger and asks for more proof. In India, Series A rounds run from a few million dollars to about $15 million, as of November 2026.
- Series B/C: Series B, C, D and later rounds are growth rounds: large cheques for a startup with a proven model that wants to expand, enter new markets or move toward profit and a listing. In India they are usually priced in CCPS and, when foreign investors take part, must follow FEMA pricing rules.
Read next
FundingEloelo nears $50-60M round at $400M valuationEloelo is a Bengaluru live social entertainment platform whose micro-drama service Story TV has grown very quickly this yearResultsKutumb parent revenue triples to ₹386 crore in FY26Primetrace Technologies, based in Bengaluru, makes consumer apps including Kutumb, Crafto AI, Tarot AI, Sundar AI and PoloPartnershipInMobi pays ₹65 crore to name Bengaluru metro stationInMobi is a Bengaluru-founded advertising technology company, and its group also includes lockscreen platform Glance
Everything on Eloelo → · All startup news on 4 November 2026 →
Is this Eloelo? Get your “Featured on StopDown” badge →