A few-minute drama episode on a phone may seem like light entertainment, but it is becoming a serious business. Google International has invested around Rs. 10 crore in Bengaluru-based creator-economy startup Rigi, valuing the company at roughly Rs. 670 crore after the deal.

The investment places Google on Rigi’s shareholder list at a time when Indian audiences are increasingly watching short, cliffhanger-led shows built for mobile screens.

What is Rigi and who founded it

Rigi was founded in 2021 by Swapnil Saurav and Ananya Singhal. The company initially focused on helping creators, influencers and experts earn from their communities through paid courses, webinars and subscription groups.

Over time, Rigi has expanded into entertainment through Rigi TV, which offers short shows and micro-dramas. These are scripted stories broken into very short episodes, often designed to be watched vertically on a smartphone.

A viewer may watch a one- or two-minute episode while travelling, waiting for food or taking a short break. The ending usually creates enough curiosity to encourage the next episode. This format is different from long TV serials or two-hour films. It is quick, mobile-first and built around regular engagement.

Google’s Rs. 10 crore investment

According to reports, Google International invested Rs. 10 crore in Rigi through preference shares. The transaction gives the startup an estimated post-money valuation of about Rs. 670 crore, with Google holding roughly 1.43 percent.

The reported valuation should be understood as an estimate based on the share allotment, rather than a public market price.

Rigi has not publicly provided a detailed, project-by-project use-of-funds plan for Google’s investment. However, the strategic timing is clear. The company is looking to grow its position in digital entertainment, where original content, user acquisition, technology and creator partnerships all require steady spending.

For Rigi, the money can strengthen its balance sheet and help it compete in a market where content discovery matters as much as content production.

Why micro-dramas are gaining attention

Micro-dramas borrow the speed of short videos but add a continuing story. Instead of a standalone reel, viewers get a sequence of episodes based on romance, family conflict, thrillers, comedy or suspense.

The format can earn money through advertisements, in-app purchases or subscriptions. Rigi’s platform generates revenue through ads and in-app purchases, according to the funding report.

The opportunity is attractive, but it is not easy. A platform must keep releasing fresh stories, control production costs and convince users to return regularly. A good trailer may bring downloads, but strong writing and reliable content quality keep viewers watching.

Rigi’s competitors

Rigi faces competition from Indian micro-drama services such as Kuku TV, Quick TV and Story TV. International apps including ReelShort, DramaBox and NetShort are also competing for the same mobile audience.

The real contest is not only about who has the biggest content library. It is about offering stories in Indian languages, understanding local tastes and making paid episodes feel worthwhile to viewers.

India’s startup funding news this week spans three very different updates: artificial intelligence, defence drones and mobile entertainment. Unacademy co-founders Gaurav Munjal and Roman Saini are planning a new fund, Paar Autonomy has raised Rs 10 crore, and Eloelo is reportedly in talks to raise up to $60 million.

The plans show how investors are looking at both deep technology and consumer apps. The amounts are substantial, but each story is at a different stage: one fund is still being raised, one investment has been announced, and one funding round is still under discussion.

Unacademy founders plan a Rs 700 crore AI and deep-tech fund

Gaurav Munjal and Roman Saini are raising a Rs 700 crore venture fund called Longshot Capital, according to a report by Newsbyte. The fund is intended to back startups working in artificial intelligence and deep technology. It has reportedly secured commitments of about Rs 300 crore and is targeting an initial close in January 2027. The fundraising target and timing may change.

The fund could give early-stage founders access to capital for ambitious technology projects. For example, a team building specialized AI software or advanced engineering hardware may need funding well before it can earn steady revenue. A dedicated fund could help support that early work, though its investment plans and final size are still taking shape.

Munjal and Saini co-founded Unacademy, an education technology company established in 2015. Their proposed fund marks a move into investing in other startups after their time building the learning platform.

Paar Autonomy raises Rs 10 crore for GPS-independent drone navigation

Bengaluru-based Paar Autonomy has raised Rs 10 crore in a round led by AdvantEdge Founders, according to the Ascendants. Founded in 2024 by Vignesh Sivaram Jayaraman, the startup develops camera systems and AI software for drones and other unmanned vehicles.

The funding is intended to help expand production of its camera systems and develop navigation technology that can work without GPS. This matters in places where satellite signals can be disrupted. A drone that can use cameras and other sensors to understand its surroundings may be better equipped to continue operating when GPS is unavailable.

Paar’s focus is on the systems that help unmanned vehicles “see” and navigate, rather than on building a complete drone. That makes it a specialist supplier in a field that also includes drone makers and companies developing alternative navigation systems. Its progress will depend on how well its equipment performs in real-world conditions and whether it can move from development to repeat orders.

Eloelo is reportedly seeking $50–60 million

Bengaluru-based Eloelo is in advanced talks to raise $50–60 million at a reported valuation of about $400 million, with Hornbill Capital expected to lead the round,  as per ET. The talks are not the same as a completed deal, so the amount and terms could still change.

Founded in 2020 by Saurabh Pandey, Eloelo began as a live social entertainment platform. Its business now includes Story TV, which offers short, mobile-friendly dramas. The reported funding interest follows fast growth in this part of the company, according to people cited in the report.

If completed, the capital could help Eloelo expand its content business and compete for viewers in a crowded market. Rivals in short-form and mobile entertainment include Kuku, Pocket FM and other apps building audiences around short stories, serialized shows and creator-led content. The challenge is to keep viewers returning while making the cost of producing and promoting content pay off.

Three different bets on growth

These stories point to three distinct ideas about where Indian startups may find opportunity. Longshot Capital would invest in companies building new technology. Paar Autonomy is developing tools for drones to operate when satellite navigation is unreliable. Eloelo is betting that audiences will spend more time with short, mobile-first entertainment.

The funding figures also need context. The Unacademy founders’ fund is still being raised, Paar’s round has been reported as secured, and Eloelo’s proposed round remains under discussion. For founders and investors, the next signs to watch are whether Longshot reaches its first close, Paar wins larger deployments, and Eloelo turns its reported audience growth into a completed fundraise and lasting business growth.

Disclaimer
Funding details for Longshot Capital and Eloelo are based on media reports and may change. Eloelo’s proposed round has not been confirmed as completed. This article is for general information and is not investment advice.