OTT platform STAGE raises Rs 40 crore in funding
Dialect-based over-the-top (OTT) platform STAGE has announced raising Rs 40 crore in funding, led by Blume Ventures. The funding round saw participation from NB Ventures, Dholakia Ventures, TSM Ventures, WeFounderCircle, Mumbai Angels, Tarmac Ventures, Tailwind Ventures, Longtail Ventures, Lets Ventures and AngelList, the company claimed. The company previously raised Rs 31 crore bringing the total capital raised to Rs 71 crore.
The funding also saw existing investors who participated, namely, Better Capital, IPV, TCA, Venture Catalysts along with some angels.
The capital raised will be used to go deeper into Haryana and Rajasthan, create more original content and grow the product, Vinay Singhal, co-founder, STAGE, said.
“We plan to capture 10% of the over 25 million households watching video content in Haryana and Rajasthan by mid-2024. STAGE’s vision is to become a platform for entertainment, connection and celebration of cultures for all dialect-speaking people in the country. By 2027, we plan to launch in the top 20 dialects of the country, which have the potential to reach over 200 million households,” he added.
STAGE started with Haryanavi content in 2019, and currently claims to have over 225,000 subscribers. Additionally, it has stated it adds over 25k subscribers per month, growing 30% on a month-on-month (M-o-M) basis. STAGE’s roster includes web series in Haryanvi such as Akhada, Group-D, College Kaand, Opri Parai, among others.
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