India’s EloElo raises $80 million in Series C round with NBCUniversal participation

Indian short-form drama platform EloElo has completed an $80 million Series C round for its Story TV business, with Hornbill Capital and NBCUniversal among the investors. After the financing, the company’s total funding has reached $130 million, and its valuation stands at about $500 million. EloElo was founded in 2020 by former Flipkart executive Saurabh Pandey. Its Story TV platform offers more than 5,000 short drama titles across six languages and reports more than 33 million monthly active users. The company also said users spend an average of 95 minutes per day on the app. In addition to Story TV, EloElo operates DolphinTV, an AI video creation tool designed to improve the video production process, and said it plans to make the tool available to users more broadly in the future, according to TechCrunch.