Blume Ventures leads a Rs 40 Cr funding round for OTT platform STAGE
- ByStartupStory | January 3, 2023
STAGE, a Delhi-based OTT platform, has raised Rs 40 crore in funding round led by Blume Ventures. NB Ventures, Dholakia Ventures, TSM Ventures, WeFounderCircle, Mumbai Angels, Tarmac Ventures, Tailwind Ventures, Longtail Ventures, Lets Venture, and AngelList also participated in the round. The previous capital raised by the company was Rs 31 crore, bringing the total capital raised to Rs 71 crore. STAGE is a digital, hyper-localized, professionally-generated content platform that was launched in November 2019 by Vinay Singhal, Shashank Vaishnav, and Parveen Singhal. It offers trending, amusing, and useful material in different languages and dialects.
“The capital raised will be used to go deeper in Haryana and Rajasthan, create more original content, and grow the product,” Vinay Singhal said.
He also added, “We plan to capture 10% of 25 million+ households watching video content in Haryana and Rajasthan by mid-2024. STAGE’s vision is to become a platform for entertainment, connection & 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 a potential to reach 200 million+ households.”
STAGE began with Haryanvi content in 2019 and today claims 225,000+ subscribers, adding 25k+ subscribers each month, and expanding 30% month over month. Many Haryanvi web series have been produced via the platform, including Akhada, Group-D, College Kaand, Opri Parai, and others. STAGE debuted the Rajasthani dialect in June 2022 and already has 10,000+ customers as a result of this great product-market fit and customer love.
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