Overview
- The round was led by Horizon Capital, with U.S. participation from Endeavor Catalyst and Wheelhouse.
- Holywater says the raise is the largest microdrama investment to date outside Asia.
- The company reports a total user base of about 85 million and plans to deploy the funds into AI tools and platform expansion.
- Fox Entertainment holds an equity stake and is collaborating on more than 200 vertical series over the next two years.
- Industry estimates peg 2025 microdrama revenue at roughly $3 billion excluding China, as competitors like ReelShort, DramaBox and TikTok’s Minis crowd the field.