India’s EloElo nabs $80M from NBCUniversal to bet on the country’s rising microdrama market

EloElo, the company behind Story TV, a popular microdrama app in India, has raised $80 million in Series C funding from Hornbill Capital and NBCUniversal. This brings the company's total funding to $130 million, with a valuation of $500 million. The funding comes as the microdrama market in India continues to grow, with over 118 million users watching serialized content every month.