NBCUniversal and Hornbill Capital Lead $80 Million Series C for EloElo, Parent of Indian Microdrama App Story TV

NBCUniversal and India-focused investment firm Hornbill Capital have co-led an $80 million Series C funding round for EloElo Group, the Bengaluru-based company behind Story TV, a fast-growing Indian microdrama platform. MIT Investment Co. also joined the round, along with existing backers Play Ventures, Kalaari Capital, Waterbridge Ventures, and Griffin Gaming Partners, among others. The fresh capital brings EloElo’s total funding to date to an undisclosed higher figure, underscoring investor confidence in the short-form video entertainment sector. Story TV specializes in bite-sized, episodic dramas tailored for mobile-first audiences, a format that has exploded in popularity across India’s massive smartphone user base. The platform competes in a crowded market that includes Pocket FM and other serialized audio-video apps, but EloElo’s backing from a global media giant like NBCUniversal signals strategic interest beyond pure financial returns. The partnership could open doors for content licensing, production expertise, and international distribution. For NBCUniversal, the investment marks a deeper push into India’s booming digital content economy, where regional-language storytelling and low-data consumption models drive high engagement. Hornbill Capital, known for backing tech-enabled consumer businesses in India, adds local market insight to the round. The involvement of MIT Investment Co. also hints at long-term institutional confidence in the microdrama model. The funding will likely fuel content acquisition, technology upgrades, and user acquisition as Story TV scales across India’s linguistic diversity. With short-form video consumption still on the rise, EloElo is positioned to capture a larger share of the country’s entertainment spending. Watch for accelerated growth and possible global expansion moves in the coming quarters.