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India’s EloElo raises $80M for AI microdramas

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India’s EloElo raises $80M for AI microdramas

India’s EloElo has raised $80 million in a round of funding for its serialized microdramas, Techcrunch reported.

The company already gets more than 118 million users watching its AI-produced microdramas every month, and it has 33 million active users for its Story TV app.

Hornbill Capital and NBCUniversal led the round, bringing total funding to date to $130 million. The valuation is $500 million for this round.

There are probably a lot of people who would call this content “AI slop,” generated by AI or assisted by AI tools. But EloElo calls it microdramas. It’s not so different from what Israel’s Shortical is doing with its own romance, fantasy and superhero microdramas that are visible on platforms like Instagram, Facebook and TikTok. This kind of content is becoming popular across the U.S., China and India as well as around the rest of the world. Hollywood stars are also diving into microdramas to be part of the growth trend, even as Hollywood itself declines.

The company targets India’s massive internet population of more than billion people. EloElo was founded in 2020 by former Flipkart exec Saurabh Pandey. The Story TV platform has a catalog of more than 5,000 titles in six languages. Pandey told Techcrunch that users log 95 minutes a day on the platform by watching multiple shows at a time.

These shows might be interesting to consumers for they novelty and easy access, but I would be interested to see if they have lasting staying power, beyond grabbing a social moment.


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