Bengaluru-based EloElo Group, which operates the microdrama platform Story TV, is stepping up investments in original content, artificial intelligence and international expansion as it looks to tap growing demand for mobile-first entertainment.
The platform has seen daily time spent by users rise to 95 minutes from 65-70 minutes a few months ago. The company has over 120 million app installs across its platforms and more than 40 million monthly active users across Story TV, Master, its micro-learning platform, and Voxy AI.
The expansion plans coincide with an $80 million Series C funding round led by Hornbill Capital and NBCUniversal, taking the company’s total capital raised to $130 million. Existing investors, including Kalaari Capital, Play Ventures, Waterbridge Ventures and Griffin Gaming Partners, also participated.
Founded in Bengaluru in 2020 by former Flipkart executive Saurabh Pandey, EloElo has built a library of over 5,000 microdramas across six languages. It currently produces around 250 new dramas every month and plans to more than double its content slate over the next year, with Hindi, Tamil and Telugu as its key focus languages.
“We hope to more than double our slate in the next one year itself. The idea is not just to double the numbers, but to build genuinely good IP and really good stories,” Pandey told businessline.
Artificial intelligence is increasingly central to its production strategy. Pandey said 70-80% of the workflows involved in making microdramas are now AI-powered, helping bring production costs down to ₹15-17 lakh per drama. The company is also investing in Dolphin AI, its AI-powered creative suite, and plans to expand its data science, machine learning and generative AI engineering teams.
International expansion, beginning with the US, is another priority. The company wants to target both Indian diaspora audiences and native-language viewers in overseas markets.
“We believe there is no Netflix of microdramas yet, and no one brand in this space that dominates global markets. We believe Story TV has that potential,” Pandey said.
“The team’s execution, financial discipline, and AI capabilities position it well for its next phase of growth,” said Manoj Thakur, Founder and Managing Partner of Hornbill Capital.
The expansion comes as microdramas gain traction globally. Omdia estimates the industry will generate $14 billion by the end of 2026. In India, Redseer estimates 40 million people paid for a microdrama at least once in FY26.
“Under Saurabh’s leadership, EloElo has developed a differentiated,mobile-first approach with a clear focus on content and storytelling, positioning the company for long-term success,” said Deepak Arya, Executive Vice President, Corporate Strategy & Development at NBCUniversal.
Published on November 4, 2026
