Indian entertainment company EloElo has secured $80 million in a Series C funding round from Hornbill Capital and NBCUniversal. The investment brings its total funding to $130 million and values the company at $500 million.
The funding comes as short, serialized mobile dramas gain traction in India. EloElo's Story TV offers more than 5,000 titles in six languages, while the company says its suite of apps reaches over 40 million monthly users. Story TV accounts for most of that audience.
EloElo plans to use the capital to develop more original programming and expand its artificial intelligence and machine-learning teams. It is also preparing to make DolphinTV, an AI-supported video production tool initially built for internal use, more widely available. The platform offers tools for editing and creating video, audio and visual content.
Founder Saurabh Pandey sees mobile devices as an increasingly important home for entertainment, with serialized stories designed to fit into shorter viewing sessions throughout the day. He says AI can support creative teams, while human direction remains central to shaping stories.
Alongside Story TV, EloElo operates Master, a vertical-video learning app, and Voxy AI, an AI companion app. The company also intends to grow its original-content slate as it develops its technology offering.
With new investment flowing into both storytelling and production tools, EloElo's next phase could help shape how mobile-first audiences discover and experience serialized entertainment.
