# EloElo raises $80m in Series C funding led by Hornbill Capital and NBCUniversal

- URL: https://talkfuse.com/story/indias-eloelo-nabs-80m-from-nbcuniversal-to-bet-on-the-countrys-rising-microdrama-market/
- Published: 2026-11-04T05:21:37+00:00
- Updated: 2026-11-04T05:54:09+00:00
- Original publisher: TechCrunch
- Original article: https://techcrunch.com/2026/11/03/indias-eloelo-nabs-80m-from-nbc-universal-to-bet-on-the-countrys-rising-microdrama-market/
- Topics: Asia, Business, Companies, Entertainment, TV, World

## Key points

- EloElo raised $80 million, reaching a $500 million valuation.
- Story TV has more than 33 million active users.
- Converting microdrama viewers into paying subscribers remains difficult.

## Summary

No new development is specified in the added coverage: the available article reports that Indian microdrama platform EloElo raised $80 million in a Series C round led by Hornbill Capital and NBCUniversal, valuing the company at $500 million. The investment backs Story TV as demand grows for mobile-first serialised entertainment in India, where more than 118 million people watch microdramas each month.

Founded in 2020, EloElo says Story TV has over 33 million active users and a catalogue of more than 5,000 titles in six languages; users spend an average of 95 minutes a day on the app. The round brings the company’s total fundraising to $130 million, and analysts forecast the Indian microdrama market could generate $3 billion to $4 billion annually by 2030. Paid subscriptions remain a challenge: estimates put monthly paying users at 15 million to 17 million, while a survey found 72% of viewers had never paid.

## Coverage

- [TechCrunch: EloElo raises $80m in Series C funding led by Hornbill Capital and NBCUniversal](https://techcrunch.com/2026/11/03/indias-eloelo-nabs-80m-from-nbc-universal-to-bet-on-the-countrys-rising-microdrama-market/)
- [Variety: NBCUniversal, Hornbill Capital Back EloElo, Parent of Indian Microdrama Platform Story TV, in $80 Million Funding Round](https://variety.com/2026/tv/news/nbcuniversal-microdrama-story-tv-eloelo-80-million-1236938992/)

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.