Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

NBCUniversal, MIT Investment join Indian microdrama firm's $80 million funding round

By Reuters News

BENGALURU, Nov 4 (Reuters) - India's EloElo Group, the parent of microdrama platform Story TV, said on Wednesday 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

  • 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

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.
The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.
To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.
 

Cryptocurrency-related content is intended solely as news and market commentary. Crypto Derivatives are not available to Retail clients registered with Capital Com (UK) Ltd.