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NBCUniversal, MIT Investment join Indian microdrama firm’s $80 million funding round
EloElo Group, the Indian company behind microdrama platform Story TV, has raised $80 million, with NBCUniversal and MIT Investment Co among the investors. The funding points to growing interest in short-form scripted video, an industry forecast to expand rapidly worldwide.
The round was led by Hornbill Capital and NBCUniversal, with several other investors also taking part. It values EloElo at $500 million, according to a person with direct knowledge, and brings the company’s total capital raised to $130 million. EloElo plans to fund original productions, international expansion and further development of its Dolphin AI creative suite.
In short
- EloElo raised $80 million for Story TV.
- NBCUniversal and MIT Investment Co joined the round.
- Funds will support content, expansion and AI development.
Explained simply
Microdramas are scripted stories told in very short video episodes, often designed for watching on a phone. Story TV is a platform for this format run by EloElo Group, an Indian media company.
EloElo’s plans involve three areas: making its own programmes, expanding into more countries and developing Dolphin, a set of artificial intelligence tools for creative work. The company’s growth reflects wider interest in short-form scripted video, which is forecast to expand worldwide.
NBCUniversal is a major US media company, while MIT Investment Co is an investment firm; Hornbill Capital is an investment firm that led the funding round. Their involvement connects EloElo with financial backing and established players in media as the market for short video stories develops.