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

More than 118 million users watch microdramas every month as the serialized format has taken off in India. EloElo’s Story TV is one of the top apps for microdramas, with over 33 million active users, according to analysts.

Banking on that scale, the company has raised $80 million in Series C from Hornbill Capital and NBCUniversal. This round brings its total fundraising to $130 million, with…