EloElo Group Raises $80M Series C to Expand Story TV and AI Platforms

Saurabh Pandey, Founder & CEO of EloElo Group

Key Takeaways:

• Bengaluru-based consumer entertainment and AI company EloElo Group secured an $80 million Series C funding round, bringing total capital raised to $130 million at an estimated $500 million valuation.
• Co-led by Hornbill Capital and NBCUniversal with participation from MIT Investment Co., Play Ventures, Kalaari Capital, Waterbridge Ventures, and Griffin Gaming Partners, the capital will finance international expansion for its mobile-first microdrama platform, Story TV, and advance its agentic AI video studio, Dolphin AI.
• This investment aligns with a broader global macroeconomic shift toward capital-efficient, algorithmic media production, where traditional studios face structural cost disadvantages.

How Much Did EloElo Group Raise in Its Series C Round?

Bengaluru-based EloElo Group has raised US$80 million in a Series C funding round co-led by Hornbill Capital and NBCUniversal, with participation from MIT Investment Co.

Existing investors Play Ventures, Kalaari Capital, Waterbridge Ventures, and Griffin Gaming Partners also participated, reinforcing their continued backing of the company's strategy across digital entertainment and artificial intelligence.

Founded in 2020 by former Flipkart executive Saurabh Pandey, EloElo Group operates a portfolio of consumer-facing digital platforms spanning short-form entertainment, micro-learning and AI-powered applications.

The new capital will support two priorities: scaling Story TV, its mobile-first microdrama platform, and developing Dolphin AI, an agentic AI platform focused on creative content production.

How Will EloElo Group Use the US$80M Funding?

EloElo Group plans to allocate the funding across content investment, platform development and international expansion.

Its priorities include:

• Expanding Story TV: Investing in original programming and increasing the volume of regional-language productions.
• Growing internationally: Taking Story TV into additional markets as the company expands beyond India.
• Developing Dolphin AI: Advancing its agentic AI platform for creative content production.
• Strengthening its entertainment portfolio: Building on the reach of its existing consumer platforms and AI-powered applications.

The strategy positions EloElo Group across two related markets: mobile-first entertainment, where short-form and microdrama content is gaining traction, and AI-enabled creative production, where tools can support content development and workflows.

What Are Story TV and Dolphin AI?

The funding will support two distinct products within EloElo Group's portfolio, each addressing a different part of the digital content ecosystem.

Platform	Focus	Strategic priority
Story TV	Mobile-first microdrama	Original programming, regional-language content and international expansion
Dolphin AI	Agentic AI for creative production	Developing AI capabilities for content creation
Master	Micro-learning	Part of EloElo Group's broader digital platform portfolio
Voxy AI	AI-powered applications	Part of the company's expanding AI product portfolio

Story TV is central to the company's consumer entertainment strategy. Its mobile-first format is built around microdramas, with investment directed towards original shows and productions in regional languages. These investments could help the platform reach audiences with varied language and content preferences.

Dolphin AI, meanwhile, represents EloElo Group's push into agentic AI. The platform is designed for creative content production, giving the company a presence beyond content distribution and into the tools and technologies used to create digital content.

Together, the products reflect EloElo Group's strategy of combining consumer platforms with AI-powered capabilities.

How Large Is EloElo Group's User Base?

EloElo Group reports that its products collectively serve more than 40 million monthly active users and have recorded over 300 million app installations.

These figures provide an indication of the company's existing distribution reach as it prepares to scale Story TV and develop its AI platforms.

Company metric	Reported figure
Founded	2020
Monthly active users across platforms	More than 40 million
Cumulative app installations	More than 300 million
Series C funding	US$80 million

The company has not disclosed a product-by-product breakdown of users or installations. As a result, the reported figures should be understood as combined metrics across its portfolio rather than Story TV's individual audience.

What Does the Series C Mean for EloElo Group's Growth Strategy?

The US$80 million round gives EloElo Group additional capital to scale its entertainment business while developing AI products for creative production.

For Story TV, the focus will be on expanding its content catalogue, investing in regional-language programming and entering international markets. For Dolphin AI, the priority is to advance an agentic AI platform that supports creative workflows.

The participation of NBCUniversal alongside institutional investors and existing backers also brings a diverse investor group to the round. However, the company has not disclosed the individual investment amounts or whether the new investors will take on strategic or operational roles.

EloElo Group's next phase will depend on how effectively it converts its reported audience reach of more than 40 million monthly active users into sustained engagement and growth across its platforms, while establishing Dolphin AI as a distinct business opportunity.