EloElo Group Raises $80 Million to Scale Story TV and Dolphin AI

Who led the $80 million round?

EloElo Group said it raised $80 million in a Series C funding round led by Hornbill Capital and NBCUniversal. The consumer AI and entertainment company said the financing lifted its total capital raised to $130 million.

The company said MIT Investment Co. participated in the round, alongside existing investors Play Ventures, Kalaari Capital, Waterbridge Ventures, Griffin Gaming Partners and others. Hornbill Capital and NBCUniversal led the financing.

The Series C follows EloElo Group’s $13.5 million Series B in April 2025. It also comes as the company prepares Story TV’s international launch and deeper investment in Dolphin AI.

The round gives EloElo three funded growth levers: content, distribution and AI.

How will EloElo use the capital?

EloElo Group said it will use the proceeds to:

• Fund original content across languages.
• Support the international launch of its micro drama platform Story TV.
• Expand investment in Dolphin AI, the company’s agentic AI creative suite.

EloElo Group operates Story TV and Master, a micro learning platform. It also runs Dolphin AI and Voxy AI, an AI companion agent.

The portfolio spans micro drama viewing through Story TV, micro learning through Master, creative production through Dolphin AI and AI companionship through Voxy AI. EloElo now has products addressing entertainment, learning and AI-assisted creation.

The capital covers consumer apps, content supply and AI tools across the portfolio.

How large is Story TV?

According to EloElo, Story TV offers more than 5,000 micro dramas across six languages and launches a new drama every three hours. The company reports 95 minutes of daily time spent per user.

Across its apps, EloElo Group reports more than 40 million monthly active users and more than 300 million installs. Those audience and installation figures apply across the group’s apps, rather than to Story TV alone.

According to the company, EloElo owns the content, distribution and AI-powered production engine behind its entertainment business. That ownership gives the group control over programming and the technology used to produce and distribute it.

Story TV already has substantial content volume and daily engagement, based on the company’s figures.

What do the financial results show?

EloElo Group previously raised $13.5 million in a Series B round in April 2025. The Series C brings the company’s total capital raised to $130 million.

EloElo said it achieved “multi-fold revenue growth over the past year and scaled its operations with profitable unit economics.”

The company began monetizing in May 2024. It reported revenue of Rs 69.5 crore in FY25, while its losses remained largely flat. The disclosure pairs faster revenue growth with limited deterioration in the bottom line, rather than a reported profit.

The company has not filed FY26 financial results. Investors therefore lack a current-year figure for revenue, losses or the effect of the new financing.

The next financial checkpoint is FY26, which remains unfiled.

How large is the micro-drama market?

EloElo plans to expand its content slate with a focus on premium originals. The company also plans to take Story TV into international markets, including the US.

Omdia expects the global micro drama segment to generate $14 billion by the end of 2026. Redseer estimates that 40 million people in India paid for a micro drama at least once in FY26.

Lumikai’s State of India Interactive Media Report projects the market to reach $4.5 billion by 2030. The estimates use different markets and time horizons, so they provide directional support rather than a directly comparable forecast.

The forecasts support EloElo’s expansion plan, though they remain third-party estimates.

Who does EloElo compete against?

Siliconindia reported that EloElo Group’s Master competes with Seekho, which Bessemer Venture Partners and Lightspeed back. In micro dramas, Story TV competes with Kuku TV and ShareChat’s Quick TV.

Flipkart has entered the micro drama segment. Pocket FM re-entered the market with Pocket Saga after shutting down Pocket TV.

Competition now spans Seekho, Kuku TV, Quick TV, Flipkart and a returning Pocket FM. EloElo’s next test will come through the U.S. launch of Story TV, a premium-originals push and further investment in Dolphin AI.