SHARECHAT
ShareChat hires creative directors as AI cuts microdrama costs by 40%: CTO Nitin Jain
Nitin Jain told the Economic Times Digital that AI has lowered the barrier to entry for creators, while the company's engineers now supervise AI-written code instead of writing it by hand.
From streaming to software, microdrama startups rewrite their growth pitch
Peak XV Partners-backed Dashverse has discontinued its consumer platform DashReels and is looking to raise $30-40 million, largely for Frameo AI, its video production software for businesses. Eloelo, which raised $80 million this week led by Hornbill Capital and NBCUniversal, is investing in Dolphin AI, its new production suite, alongside content creation and international expansion.
GPU bidding norms eased; Lenskart CEO on profitability
Happy Thursday! Govt has lowered entry barriers for GPU bidders, but pricing concerns remain. This and more in today’s ETtech Morning Dispatch.
Story TV parent Eloelo raises $80 million from Hornbill, NBCUniversal
The funding follows a surge in Story TV’s business, which has helped lift annualised collections more than tenfold to around $250 million over the past year, according to people familiar with the company. Eloelo said Story TV offers over 5,000 dramas in six languages, while its apps have more than 40 million monthly active users.
Lenskart, Nykaa, PhysicsWallah see Q2 profits surge
New-age companies Nykaa, Lenskart, and PhysicsWallah reported strong numbers for the September quarter. This and more in today’s ETtech Top 5.
ShareChat’s FY26 revenue jumps 40% to Rs 1,016 crore on microdrama push; net loss widens
However, its loss before tax widened to Rs 1,978 crore in FY26 from Rs 1,105 crore in the previous year, largely due to higher accounting expenses related to its convertible debt instruments, forex losses and employee stock ownership plans (ESOPs), cofounder and CFO Manohar Singh Charan told ET.
British investor Baillie Gifford fund marks down Dailyhunt parent amid revenue pressures
The Schiehallion Fund pegged the fair value of its 1.3% holding in VerSe Innovation at $7.47 million, according to its portfolio disclosures reviewed by ET, implying a total company valuation of roughly $576 million.
Eloelo in talks to raise $50-60 million at $400 million valuation
The potential funding follows a sharp expansion of Eloelo's micro-drama business, Story TV, which has helped lift annualised collections more than tenfold to around $250 million over the past year. The Bengaluru-based company has used aggressive performance marketing to scale up Story TV, which offers short, vertically filmed fiction across genres such as romance and thrillers, the people said.
Origin raises $20 million to scale construction robots, targets 150 deployments by 2027
The San Francisco and Bengaluru based company, which emerged from stealth, will use the capital to build out its robot fleet and conduct customer pilots, including with two of the largest drywall finishing contractors in the US. Further pilots are planned in Germany, Sweden, France and Saudi Arabia.
Former Elevation Capital partner Mayank Khanduja joins Silicon Valley VC Bessemer in India
Khanduja, who left Elevation Capital in January, will focus on early-stage investments at Bessemer, working with founders from their first institutional funding round, the firm said.
Models ready but data isn’t: Google’s Andi Gutmans on AI’s next big hurdle
As companies increasingly deploy AI, Google emphasises the importance of preparing corporate data for effective use. Andi Gutmans stated that understanding a business requires analysing contracts, revenue, and customer data. Google is expanding its engineering teams in India to support businesses in connecting AI systems with their essential data.
As microdrama content explodes, ShareChat says the algorithm could determine what gets seen
Charan said falling production costs and the use of artificial intelligence would lead to more stories being produced at greater speed. As the number of similar stories increases, he said, the algorithm will determine which ones get viewed.
AI could disrupt traditional entertainment studio model as production costs fall
Artificial intelligence is revolutionising the landscape of entertainment production, offering creators remarkable cost savings. Smaller production companies can now bring projects to life while maintaining their intellectual property rights. With generative AI at the forefront, content creation in areas like audio and microdramas is already gaining momentum. This shift is predicted to ripple across film and high-quality scripted series, leading to significant growth in innovation and content output.
Kuku to hire 1,000 people for AI content unit ahead of IPO
Kuku Technologies is on the verge of launching an expansive artificial intelligence production facility, aimed at bolstering its flourishing microdrama business and paving the way for an initial public offering. This strategic move is crucial as the competition in the microdrama sector heats up with new players entering the market. Analysts anticipate considerable growth in India's microdrama landscape in the foreseeable future.
Flipkart launches microdrama on main app to drive platform engagement
The vertical is placed within Flipkart's main ecommerce app under 'Play' – which has a content-led shopping discovery platform ‘Explore’ and microdrama vertical ‘Drama’. The move is intended to attract users to the platform and boost engagement ahead of the upcoming festive season.
Mohalla Tech partners with Pratilipi’s Double Tap Films to distribute 75+ stories as microdramas
Mohalla Tech, parent of ShareChat, Moj and QuickTV, has partnered with Pratilipi’s Double Tap Films to adapt more than 75 stories into microdramas. The content will be distributed across Mohalla Tech’s platforms, targeting growing demand for regional, short-form and episodic entertainment.
ShareChat valuation drops 60% to under $2 billion post new funding
Twitter and Google-backed homegrown social media firm Sharechat has closed $49 million in debt financing through convertible debentures from existing investors – Lightspeed, Temasek, Alkeon Capital, Moore Strategic Ventures and HarbourVest.
Sharechat asks The Wire to take down story on the Tek Fog app
The Indian social media company has asked The Wire to take down a report that claims Sharechat is used to spread fake news and propaganda.
ShareChat looks to raise $200 million as India bans Chinese apps
ShareChat and China’s ByteDance, which owns Helo and short videos platform TikTok, have been battling for the same next billion internet users from small towns in the country.
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