Delhi-based OTT Platform STAGE Raises Rs 40 Cr In Funding
STAGE, a Delhi-based OTT platform, has raised Rs 40 crore in funding led by Blume Ventures.
NB Ventures, Tarmac Ventures, Tailwind Ventures, WeFounderCircle, Mumbai Angels, Dholakia Ventures, TSM Ventures, Longtail Ventures, Lets Venture, and AngelList also participated in the funding round.
As per the startup, the raised funds will be used to go deeper into Haryana and Rajasthan, create more original content, and grow the product.
STAGE | OTT Platform In Local Dialects
Launched by Vinay Singhal, Shashank Vaishnav, and Parveen Singhal in November 2019, STAGE is a digital, hyper-localised, professionally-generated content platform offering trending, informative and entertaining content in multiple languages and dialects.
Speaking about the development, Vinay Singhal said,
“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.”
Started with Haryanavi content in 2019, the Delhi-based OTT platform now claims to have 225,000+ subscribers and adds 25k+ subscribers per month, growing 30% M-o-M.
STAGE has produced many web series in Haryanvi, including Group-D, College Kaand, Akhada, Opri Parai, etc. Backed by strong product-market-fit and customer love, the Delhi-based OTT platform launched the Rajasthani dialect in June 2022 and already has 10k+ subscribers.
With this funding round, STAGE has raised a total of Rs 71 crore in funding.
Commenting on the development, Karthik Reddy of Blume Ventures said,
“STAGE’s slogan describes the passion and motivation of the team to build for the immense diversity of language and dialect that India offers. Building quality content is the best bet to conserve our dialects and languages, and this is STAGE’s mission. With two dialects launched and dozens more to build, we are excited to be partners on this journey.”
In April this year, audio OTT (over-the-top) platform Headfone raised $10 million in a Series B round led by venture capital firm Elevation Capital.
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