Micro-drama app EloElo raises $80m from Hornbill Capital and NBCUniversal

India-based AI-native media and entertainment company EloElo Group has raised $80m in a Series C led by Hornbill Capital and NBCUniversal, announced on Nov 4. That brings its total funding to $130m. MIT Investment Management Company joined, along with existing investors Play Ventures, Kalaari Capital, WaterBridge Ventures and Griffin Gaming Partners. The round values EloElo at ~$500m, according to sources cited by PTI. Its lead product, the micro-drama app Story TV, carries more than 5,000 dramas in six languages, and EloElo says its apps reach over 40 million monthly users. The funds will support original local-language titles, the launch of its micro-dramas outside India, including the US, and its Dolphin AI production suite. Founder and CEO Saurabh Pandey told The Economic Times that NBCUniversal will provide strategic input on content and international expansion.

Micro-drama apps are growing fast. Omdia expects global micro-drama revenue of $14.0B in 2026, up 27% from $11.0B in 2025. StoReel’s co-CEO Angela Yu says AI tools make episodes faster and cheaper to produce.

InvestGame tracks 73 short-drama app companies on its platform. Those companies have done 57 deals since 2018, with $1,018m disclosed across 43 of them: 21 deals and $361m in 2026 to Nov 6, against 15 deals and $171m in 2025.