Kishore Lulla’s Eros Innovation on November 21 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 are part of Eros Innovation’s strategy to build an integrated stack across content, computation, and cultural intelligence. This makes Eros a $2 billion company, with over $1 billion in assets, zero external debt, and positive free cash flow.
The $150 million in combined transactions comprise: 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, and growth of monetisable IP portfolios, enhancing recurring and scalable revenue streams.
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, behavioural, and cultural tokens. Developed in collaboration with IIT Madras, Eros GenAI is positioned as India’s first sovereign cultural AI stack, designed for scalability, adaptability, and alignment with national and regional cultural priorities. Its key capabilities include AI-driven video generation and editing, voice dubbing, synthesis, and automated lip-sync, generative music and audio intelligence, and avatar and intelligent character creation.
Eros Innovation has also entered into an agreement to acquire 100% of Empirical Wax, a London-based immersive entertainment studio specialising 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, and cross-platform mobile, AR/VR, and physical-venue story-telling.
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.
Eros Innovation is a global artificial intelligence and intellectual-property company integrating creative content, computational infrastructure, and cultural data into a unified, scalable digital platform. Headquartered in the Isle of Man, with operations across London, Los Angeles, Abu Dhabi, Bombay, and Madras, Eros Innovation operates at the intersection of media, technology, and finance. Anchored by over $1 billion in assets, a $2 billion independent valuation, and a zero-debt balance sheet, Eros Innovation combines disciplined capital management with deep IP ownership. Its ecosystem spans:
(a) Eros GenAI – Proprietary sovereign AI foundation models built with IIT Madras, and trained on 1.5 trillion cinematic and musical tokens;
(b) Eros Universe – Global entertainment and creator platforms, including the upcoming Super App and Eros Now;
(c) High-value film and music IP libraries;
(d) Eros Xperiences – Immersive live-entertainment ventures;
(e) AI Parks – Creative-tech R&D and production hubs;
(f) Eros Brahmand Studios – Mythic and futuristic cinematic universes;
(g) Eros Music World – AI-native music label;
(h) Eros Tokenisation Initiatives – Blockchain-enabled monetisation of IP and characters.
