BusinessWire India
Abu Dhabi [UAE]/ London [UK], November 21: Eros Innovation today announced the completion of approximately $150 million in capital and strategic transactions, reinforcing its evolution into a next-generation, AI-driven media and entertainment platform.
The transactions support Eros Innovation’s strategy to build an integrated stack across content, computation, and cultural intelligence, underpinned by a $2 billion independent valuation, over $1 billion in assets, zero external debt, and positive free cash flow.
“With over $1 billion in assets, $150 million in new capital and acquisitions, $35 million in EBITDA last year, and a clear trajectory to exceed $100 million by December 2026, Eros Innovation is scaling with both profitability and discipline,” said Kishore Lulla, Founder and Chairman of Eros Innovation.
“We are building the sovereign creative infrastructure of the future — where content, capital, and computation converge to deliver intelligent and ethical entertainment to billions of people.”
$150 Million Capital and Strategic Expansion
Eros Innovation has completed approximately $150 million in combined transactions comprising:
* A $50 million primary investment led by Plenitude Capital, advised by Greenback Capital at the Dubai International Financial Centre (DIFC); and
* Approximately $100 million of high-value creative and technology acquisitions, including film, music, and AI-related assets.
The new capital will be deployed to accelerate:
Expansion of Eros Innovation’s AI infrastructure and compute footprint
Development of immersive content formats and live experiences
Growth of monetizable IP portfolios, enhancing recurring and scalable revenue streams
Eros GenAI: India’s Sovereign Cultural AI Stack
At the core of Eros Innovation’s next phase is Eros GenAI, a proprietary multimodal foundation-model platform trained on 1.5 trillion cinematic, musical, behavioral, and cultural tokens.
Developed in collaboration with IIT Chennai, Eros GenAI is positioned as India’s first sovereign cultural AI stack, designed for scalability, adaptability, and alignment with national and regional cultural priorities.
Key capabilities include:
* AI-driven video generation and editing
* Voice dubbing, synthesis, and automated lip-sync
* Generative music and audio intelligence
* Avatar and intelligent character creation
Eros GenAI will serve as the intelligence layer across all Eros Innovation verticals — powering creator tools, entertainment applications, live and virtual experiences, and adaptive AI-native characters globally.
Strategic Acquisition of Empirical Wax and IP Portfolio
Eros Innovation has entered into an agreement to acquire 100% of Empirical Wax, a London-based immersive entertainment studio specializing in real-time AI music and cinematic immersive-environment production.
The Empirical Wax acquisition will be integrated into the Eros Xperiences division and will enhance the company’s capabilities across:
* Live avatar concerts and performances
* Virtual stage environments
* Mixed-reality and multi-sensory productions
* Cross-platform mobile, AR/VR, and physical-venue storytelling
In parallel, Eros Innovation has completed the acquisition of a $97 million intellectual-property portfolio, adding films, music, and multilingual digital content to its catalogue. This significantly enhances both:
* The company’s monetizable IP and licensing base, and
* Its proprietary AI training data corpus, creating a closed-loop ecosystem of content, data, and models.
Scale, Reach, and the Eros Universe Super App
Eros Innovation now operates one of the world’s most extensive entertainment-focused creative ecosystems, including:
* 80 million+ subscribers
* 12,000+ film titles
* 100,000+ AI-ready characters
* 2 billion+ global fans
These assets underpin the forthcoming Eros Universe Super App — a character-led creator-economy platform that combines AI tools, tokenized content, and immersive experiences within a unified interface.
The Super App is designed to enable creators, partners, and fans to co-create, distribute, and monetize stories, characters, and experiences in real time across multiple markets.
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