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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.
AI Summary
More than 118 million users in India watch microdramas each month, reflecting the format’s rapid growth. EloElo’s Story TV platform ranks among the top microdrama apps, with analysts reporting over 33 million active users. The company secured $80 million in a Series C round led by Hornbill Capital and NBCUniversal, bringing its total fundraising to $130 million. The latest investment values EloElo at $500 million.
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