NBCUniversal, MIT Investment join Indian microdrama firm's $80 million funding round
India's EloElo Group said NBCUniversal and MIT Investment Co were among investors in its $80 million funding round. The round values the startup at $500 million, a person with direct knowledge said.
1. Funding round
EloElo Group, the parent of microdrama platform Story TV, said the $80 million round was led by Hornbill Capital and NBCUniversal. MIT Investment Co, Play Ventures, Kalaari Capital, Waterbridge Ventures and Griffin Gaming Partners also participated.
2. Planned investment
EloElo said it would use the funds to make original content, launch its microdramas internationally and invest further in Dolphin AI, its in-house agentic AI creative suite. The company said it has raised $130 million in total, including this round.
