EloElo raises $80m Series C for microdramas and AI production
Hornbill Capital and NBCUniversal lead funding for the company behind Story TV, Dolphin AI, Master and Voxy AI.
EloElo Group has raised $80 million in a Series C round led by Hornbill Capital and NBCUniversal. MIT Investment Co. and existing investors Play Ventures, Kalaari Capital, WaterBridge Ventures and Griffin Gaming Partners also participated.
The Bengaluru company will use the capital for original programming across languages, the international expansion of microdrama app Story TV and further investment in Dolphin AI, its creative production platform. It also plans to grow its AI and machine-learning research team.
Story TV offers short vertical dramas in six languages. Dolphin AI supports script-to-video production, while the group’s other apps include micro-learning service Master and conversational companion Voxy AI. Founder Saurabh Pandey sees mobile storytelling and AI-assisted production as complementary parts of the business.
The financing brings EloElo’s total capital raised to $130 million. That cumulative figure includes earlier rounds; the new Series C contributes $80 million.
Use of funds
Original microdrama production across languages
Story TV international launch
Dolphin AI development and AI research hiring