EloElo Secures $80 Million in Series C Funding Led by NBCUniversal
Indian microdrama platform Story TV parent company EloElo has raised $80 million in a Series C funding round. The investment was co-led by NBCUniversal and India-focused investment firm Hornbill Capital, with participation from MIT Investment Co.
Bengaluru-based EloElo Group, the parent company of the Indian microdrama platform Story TV, has successfully secured $80 million in a Series C funding round. The latest financial investment was co-led by NBCUniversal and India-focused investment firm Hornbill Capital. Additional participation in the funding round came from MIT Investment Co.
The newly acquired capital is directed toward the rapidly growing microdrama market in India. According to figures provided by Sensor Tower, the StoryTV platform boasts a user base exceeding 33 million monthly active users.
This funding marks a significant financial boost for the Bengaluru-based company as it expands its presence in the competitive digital entertainment and microdrama sector. Further details regarding upcoming platform developments or specific deployment timelines for the capital were not disclosed.
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