India, Nov. 4 -- Microdrama platform Story TV's parent EloElo Group has raised $80 Mn (nearly Rs.756 Cr) in a Series C funding round led by global media and entertainment giant NBCUniversal and Hornbill Capital.

The round also saw participation from MIT Investment Co. and existing backers including Play Ventures, Kalaari Capital, Waterbridge Ventures and Griffin Gaming Partners, among others.

The company will use the fresh capital to invest in premium original content across Indian languages, expand Story TV to international markets and strengthen its AI capabilities through Dolphin AI, its recently launched AI creative suite.

Founded in 2020 by former Flipkart executive Saurabh Pandey, EloElo Group operates four products - Story TV (m...