India’s EloElo Group, the parent of microdrama platform Story TV, said yesterday that US entertainment ‌group NBCUniversal and MIT Investment Co were among the investors backing its latest funding round of $80 million.

Microdramas are one of the fastest growing forms of content globally, and ⁠the industry will generate $14 billion in worldwide revenue by the end of 2026, according to research and advisory group Omdia.

According to a Reuters report from Bengaluru yesterday, the funding values the startup at $500 million, said a person with direct knowledge of the matter.

The round was led by Hornbill Capital and NBCUniversal, ‌with ⁠MIT Investment Co, Play Ventures, Kalaari Capital, Waterbridge Ventures and Griffin Gaming Partners also participating, the company said.

EloElo said it would use ⁠the funds to make new original content, launch its microdramas internationally and invest further in Dolphin ⁠AI, its in-house agentic AI creative suite.

EloElo has raised $130 million in capital so ⁠far, including this round, the company said.

According to youstory.com, Eloelo Group is an Indian entertainment and technology company headquartered in Bengaluru. It was founded in 2020 by Saurabh Pandey, a former Flipkart executive.

It began as a live social entertainment and social gaming platform and has since evolved into a broader entertainment ecosystem spanning microdramas through Story TV and Elo TV, micro-learning through Masters, and AI-powered video production through Dolphin AI.