NBCUniversal backs EloElo in $80 million funding round as microdramas scale globally
The Story TV parent will use the fresh capital to produce more original content, expand internationally and invest further in its in-house agentic AI creative suite
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Published: Nov 4, 2026 1:33 PM | 2 min read
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- India's EloElo Group, parent company of Story TV, has raised $80 million in a funding round led by Hornbill Capital and NBCUniversal, bringing its total capital raised to $130 million and valuing the company at approximately $500 million.
- The funding will be used to develop original programming, expand into international markets, and enhance its Dolphin AI creative suite.
- Microdramas are rapidly gaining popularity as a mobile-first entertainment format, with projections estimating the sector to generate around $14 billion in global revenue by 2026.
- The investment indicates a shift in microdramas from an experimental format to a more established entertainment category, potentially creating new opportunities for advertisers and media companies.
India’s EloElo Group, parent company of microdrama platform Story TV, has raised $80 million in a new funding round led by Hornbill Capital and NBCUniversal, as investor interest grows around short-form, mobile-first entertainment.
MIT Investment Co, Play Ventures, Kalaari Capital, Waterbridge Ventures and Griffin Gaming Partners also participated in the round. The raise takes EloElo’s total capital raised to $130 million.
The latest funding values the company at around $500 million, according to a person with direct knowledge of the matter cited by Reuters.
EloElo said it plans to use the proceeds to create new original programming, expand its microdrama offering into international markets and invest further in Dolphin AI, its in-house agentic AI creative suite.
The investment comes as microdramas emerge as one of the fastest-growing entertainment formats globally. Research firm Omdia expects the sector to generate around $14 billion in worldwide revenue by the end of 2026, reflecting rapid adoption of short, episodic fiction designed primarily for smartphone viewing.
Story TV forms part of a wider wave of platforms attempting to adapt the vertical-video habits popularised by TikTok, Instagram Reels and YouTube Shorts into scripted entertainment. Unlike conventional streaming shows, microdramas typically rely on very short episodes, rapid narrative hooks and mobile-first consumption patterns.
NBCUniversal’s participation is particularly notable because it brings a major global entertainment company into an Indian startup operating in an emerging content format. EloElo plans to use the funding to push into overseas markets, including the US, while increasing investment in premium original content and AI-led production capabilities.
For advertisers and media companies, the funding signals that microdramas are moving from an experimental format toward a more institutionalised entertainment category. If audiences continue migrating toward mobile-native episodic content, the format could create new opportunities around branded content, sponsorships and advertising products built specifically for short-form storytelling.
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EloElo international expansion
short form content growth
Dolphin AI investment
EloElo original programming
