Indian microdrama company EloElo raises $80 million from NBCUniversal and other investors

The Series C, backed by Hornbill Capital and NBCUniversal, values EloElo at $500 million and brings its total funding to $130 million. Its Story TV app offers more than 5,000 titles in six languages. EloElo is exploring international expansion for Story TV, possibly starting in the U.S. EloElo plans to produce more original shows and expand its AI research team, while converting free viewers to subscribers remains a challenge in India’s microdrama market.