NBCUniversal and Hornbill Capital have led an $80 million Series C funding round for EloElo Group, an Indian microdrama producer founded by former Flipkart executive Saurabh Pandey. The company said the new equity will support the international expansion of its Story TV platform, including a launch in the U.S. market.
EloElo plans to use the funding to produce more vertical dramas for audiences beyond India. The investment comes as NBCUniversal explores mobile-first formats: its Peacock streaming service has launched the unscripted vertical series Campus Confidential: Miami.
NBCUniversal executive vice president of corporate strategy and development Deepak Arya said the company sees potential in mobile storytelling and microdramas. He described EloElo’s approach as focused on mobile content and storytelling, and said NBCUniversal would bring its global capabilities to the partnership as the producer expands internationally.
Founded in Bengaluru in 2020, EloElo says its slate includes more than 5,000 microdramas across six languages. The company also operates Dolphin, an AI-powered production engine, and reports more than 40 million monthly active users across its apps.
Pandey said the Series C would expand EloElo’s multilingual content, increase its focus on premium originals and Dolphin AI, and help bring its offerings to more markets. Microdramas are typically released in episodes lasting 60 to 90 seconds, often ending with a cliffhanger intended to encourage viewers to watch the next installment.
Sources: The Hollywood Reporter.