Live social entertainment platform EloElo Group raises $80-M in Series C funding

Bengaluru-based live social entertainment platform EloElo Group has raised USD 80 million in a Series C funding round led by Hornbill Capital and NBCUniversal, with participation from MIT Investment Co. and existing investors Play Ventures, Kalaari Capital, Waterbridge Ventures, and Griffin Gaming Partners. The round values the company at USD 500 million. Avendus Capital acted as the exclusive financial advisor for the transaction.Founded in 2020 by Saurabh Pandey, the company operates the microdrama platform Story TV, which features a library of over 5,000 microdramas across six languages. The firm also manages Master for micro-learning, its creative suite Dolphin AI, and an AI companion agent called Voxy AI. Currently, the company reports over 40 million monthly active users.The company plans to use the new funds to develop original content in regional languages and expand its microdrama offerings into international markets. Additionally, it will continue to invest in its AI platform, Dolphin AI, to support its production engine.