Delhi NCR based OTT platform STAGE raises $2.5 million in Pre-Series A round
- ByTejika Bajaj | January 7, 2022
Delhi NCR based local language focused OTT platform STAGE has recently raised $2.5 million through its pre-series A round of funding led by Blume Ventures and Better Capital.
Furthermore, the round also witnessed participation from IPV, TCA and prominent angel investors such as Vikay Shekar Sharma (Paytm), Aprameya Radhakrishnan, Akshat Rathee and Roman Saini among others. Additionally YouTube influencers such as Ranveer Allahabadia and Dhruv Rathee also participated in the round.
As per reports, the startup intends to utilize the freshly infused funds to scale its current database and foray into different regional languages from Haryanvi to Rajasthani, Bhojpuri, Malayalam, Maithili, Magahi and Bundhelli to name a few. Further, the startup also intends to expand its reach, build up its team, enhance the existing technology base and build on the concept of sensible content in the Indian market.
Founded in November 2019 by Vinay Singhal, Praveen Singhal and Shashank Vaishnav, STAGE is disrupting the way Indians consume content in their local languages. The startup faces tough competition in the market with names such as Tamil, Telugu, Kannada, Malayalam and Bengali regional OTT platform Sun NXT, City Short TV for Gujarati-focussed content, among others taking a sizable share of customers in the segment.
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