EloElo Group Raises $80 Million in Series C Led by Hornbill Capital and NBCUniversal to Reimagine Mobile Entertainment for the Next Billion Users

BENGALURU, India--(BUSINESS WIRE)--Nov 4, 2026--

EloElo Group, the consumer AI and entertainment company behind Story TV, India’s No. 1 micro drama platform, today announced an $80 million Series C led by Hornbill Capital and NBCUniversal. MIT Investment Co. and existing investors Play Ventures, Kalaari Capital, Waterbridge Ventures, Griffin Gaming Partners & others also participated.

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Founded in Bengaluru in 2020 by former Flipkart executive Saurabh Pandey, EloElo Group has built Story TV into the format’s leader in India: a slate of over 5,000 micro dramas in six languages, a new drama launched every three hours and 95 minutes of time spent per user every day. The group also runs Master (micro learning), Dolphin AI (its agentic AI creative suite) and Voxy AI (an AI companion agent). Across its apps, EloElo Group has over 40 million monthly active users.

The fundraise brings EloElo Group’s total capital raised to $130 million to date. This milestone comes as the company achieved multi-fold revenue growth over the last year. What sets the company apart is that it owns all three layers: the content, the distribution and the AI-powered production engine.

Saurabh Pandey, Founder and CEO of EloElo Group, said“A billion people now reach for the phone before any other screen, and the entertainment built for them will be video first, in their own language, in episodes that fit their day. That is the business EloElo Group is building: an AI-powered entertainment ecosystem that brings the next billion viewers storytelling beyond just clips. Story TV shows us what India wants to watch, and Dolphin AI gives us the economics to make it, which is how we have scaled with solid unit economics. Consumer AI will change how content is created, distributed and consumed, and we intend to lead that shift from India. This Series C deepens our content across languages, with a sharper focus on premium originals, doubles down on Dolphin AI, and takes what we have built to more audiences and more markets.”

Micro dramas are among the fastest-growing formats in global entertainment. According to Omdia, the industry will generate $14 billion globally by the end of 2026. In India, Redseer estimates that 40 million people paid for a microdrama at least once in FY26, and Lumikai’s State of India Interactive Media Report projects the market will reach $4.5 billion by 2030. Story TV leads the format in India.

“EloElo Group combines strong creative capabilities with the ability to scale content through technology, which is something we deeply believe in. The team’s execution, financial discipline, and AI capabilities position it well for its next phase of growth. We are excited to support them in building category-leading businesses at the intersection of AI & content,”said Manoj Thakur, Founder and Managing Partner of Hornbill Capital.

“At NBCUniversal, we see significant opportunity in mobile-first storytelling and emerging formats like micro dramas to engage audiences and meet evolving viewing habits. 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. We're excited to bring NBCUniversal's global capabilities to the partnership as EloElo expands beyond India, including into the U.S. market,”said Deepak Arya, Executive Vice President, Corporate Strategy & Development at NBCUniversal.

The company said it will use the Series C capital to fund new original content across local languages, launch its micro dramas internationally, and continue investments in Dolphin AI along with other business initiatives.

Avendus Capital acted as exclusive financial advisor on this funding round.

About EloElo Group

EloElo Group is a Bengaluru-based, AI-native media and entertainment company with the ambition to build the world’s largest AI-led entertainment ecosystem. Founded in 2020 by Saurabh Pandey, the group operates Story TV, India’s No. 1 micro drama platform, with more than 5,000 dramas across 6 languages; Master, its micro learning platform; Dolphin AI, its agentic AI creative suite; and Voxy AI, its interactive AI companion agent. EloElo has crossed 300 million installs and raised $130M in capital so far, backed by Hornbill Capital, NBCUniversal, MIT Investment Co, Kalaari Capital, Waterbridge Ventures, Lumikai Fund, Play Ventures, Griffin Gaming Partners and other investors.

Learn more at eloelo.in. For media and press enquiries, please write to press@eloelo.in .

About Hornbill Capital

Hornbill Capital is an India-focused investment firm that invests in the next generation of AI and data-driven businesses across private and public markets. Founded in 2014 by Manoj Thakur, the firm has backed companies including PhysicsWallah, KreditBee, Dhan, and Nazara Technologies.

About NBCUniversal

NBCUniversal is one of the world’s leading media and entertainment companies. The company creates world-class content, which it distributes across its portfolio of film, television, and streaming platforms, and brings to life through its global theme park destinations, consumer products, and experiences. It owns and operates leading entertainment and news brands, including NBC, NBC News, NBC Sports, Telemundo, NBC Local Stations, Bravo, and Peacock, its premium ad-supported streaming service. NBCUniversal produces and distributes premier filmed entertainment and programming through its renowned film and television studios, including Universal Pictures, DreamWorks Animation, and Focus Features, as well as the four global television studios under the Universal Studio Group banner. The company also operates industry-leading theme parks and experiences around the world through Universal Destinations & Experiences, including Universal Orlando Resort, home to Universal Epic Universe, and Universal Studios Hollywood. NBCUniversal is a subsidiary of Comcast Corporation.

EloElo Group's portfolio: Story TV, Dolphin AI, Master and Voxy AI. The Bengaluru-based group has raised an $80M Series C, taking total funding to $130M.

PHNOM PENH, Cambodia (AP) — A U.S. cruise ship that forced all its passengers to disembark in Cambodia after suspending its operations last week has departed the Southeast Asian nation with only crew aboard, Cambodian officials said Wednesday.

The MV Odyssey, owned by Florida-based Villa Vie Residences, had been on an around-the-world cruise when it suspended its planned three-year voyage due to the sharp rise in fuel costs.

It had been docked for a scheduled stop at the Cambodian port of Sihanoukville on the Gulf of Thailand, when on Oct. 28 its 203 passengers were suddenly told they had to disembark within a few hours.

The ship left Sihanoukville late Tuesday with only crew and other personnel on board, said Tang Sochetkresna, director of the Tourism Department of Preah Sihanouk province. He said he didn't know the ship's next destination.

He said that nearly 100 passengers remained in Sihanoukville, while others were visiting other parts of Cambodia or had traveled on to other countries. Most of the ship's passengers were Americans.

The ship, with its 650-passenger capacity, had 156 crew members on board, but it was not clear how many departed with the ship.

There has been no official announcement of future plans for the cruise ship. Media reports suggested that a creditor had taken over its management and was having it sailed to Singapore, Southeast Asia’s main maritime hub.

The abrupt end to the ship's voyage has drawn widespread attention because it had touted itself as a floating home, combining long-term living at sea with global travel.

Several passengers said they had paid more than $300,000 for a suite for the lifetime of the vessel.

Villa Vie Residences said monthly fuel expenses per cabin that historically averaged $1,800 have reached an estimated $6,000 to $8,000 in parts of Asia due to the war in Iran.

The company said it sought to reduce fuel consumption by slowing the itinerary and spending more time in port, but was unable to offset the surging costs.

Traffic has been curtailed in the Strait of Hormuz since the war in Iran began, squeezing supplies of all kinds of petroleum-based fuels, especially in Southeast Asia, and sharply increasing prices.

Passengers had said the company had been asking them for several months for contributions to keep the ship operating, and there has been an active debate on social media over whether its operation was ever financially viable.

Built in 1993 and operated under different names by several cruise lines over the years before the COVID-19 pandemic, the Odyssey was bought by Villa Vie Residences in 2023.

Its current cruise began in October 2024 in Belfast, Northern Ireland, where the ship had been refitted. A second cruise, along with the purchase of a second ship to operate in a similar capacity, had already been planned.

The captains of U.S. cruise ship, the MV Odyssey Emanuele Giudice, second from right, and Rodrigo, second from left, attend a meeting with Cambodian Tourism Minister Hout Hak in a room inside the ship in Sihanoukville, Cambodia, Thursday, Oct. 29, 2026. (AP Photo/Heng Sinith)

This frame grab from the YouTube channel 'Lynn and Paul's Excellent Adventure' shows Lynn Montoya, a passenger on MV Odyssey leave with her luggage in Sihanoukville, Cambodia, Tuesday, Oct. 27, 2026. (Lynn and Paul's Excellent Adventure via AP)

Cambodian Tourism Minister Hout Hak, center, walks with the captains of the U.S. cruise ship, the MV Odyssey Emanuele Giudice, right, and Rodrigo, left, near the cruise ship in Sihanoukville, Cambodia, Thursday, Oct. 29, 2026. (AP Photo/Heng Sinith)