Story TV Took Eloelo’s Annualised Collections Past $250 Mn. Now a $50–60 Mn Round Is Taking Shape

Eloelo’s biggest growth engine is no longer just live social entertainment. The Bengaluru-based company’s push into short-form fiction through Story TV has expanded rapidly enough that it is now in advanced talks for its largest funding round yet.

Eloelo is discussing a $50–60 million fundraise, equivalent to roughly ₹480–580 crore, at a valuation of around $400 million, according to people familiar with the matter. Hornbill Capital is expected to lead the round, with existing investors also participating. The transaction is still being negotiated and has not been announced as closed.

The fundraising follows a sharp rise in Story TV’s business. Economic Times reported that Eloelo’s annualised collections have grown more than tenfold over the past year to around $250 million, driven largely by its micro-drama vertical. Story TV offers short, vertically filmed fiction across genres including romance and thrillers.

Earlier company materials show just how quickly the format scaled. A pitch deck reviewed by Moneycontrol put Eloelo Group’s annualised revenue run rate at $230 million in January 2026, up from $23 million in June 2025, while claiming 27 million monthly active users and more than two billion minutes of monthly viewing. Those figures were company-reported and annualised rather than audited full-year revenue.

Story TV has also become increasingly central to Eloelo’s content strategy. The company has expanded regional programming, including plans for more than 1,000 South Indian micro-dramas by March 2027, while its broader entertainment portfolio still includes live social, learning and AI-led products.

Eloelo last raised $13.5 million in April 2025 in a round led by Play Ventures, taking its total funding above $50 million. If the current talks close near the reported terms, the new round would mark a much larger capital step — and underline how quickly micro-dramas have moved from an experimental content format to Eloelo’s main growth story.