Bengaluru-based Eloelo nears $50 million-$60 million raise led by Hornbill Capital
Business
Eloelo, the Bengaluru-based live social entertainment app, is close to raising $50 million to $60 million in new funding, with Hornbill Capital leading the charge and existing backers participating.
This round could push Eloelo's valuation to about $400 million, a big step up for a platform that's quickly making its mark in India's digital entertainment scene.
'Story TV' micro-drama collections hit $250 million
What's fueling all this buzz?
Eloelo's micro-drama segment, Story TV, has exploded over the past year, growing annualized collections more than 10-fold to hit around $250 million.
With short dramas spanning romance to thrillers and aggressive performance marketing, Story TV has helped Eloelo lift annualized collections more than 10-fold to around $250 million.