VC Fund Investments
Regional-language focused OTT app Stage attracts $10-M led by Goodwater Capital
Indore-based regional language-focused over-the-top (OTT) platform Stage is raising INR 84.6 crore (around USD 10 million) in its Series B round led by Goodwater Capital (INR 41.95 crore) with participation from Blume Ventures (INR 26 crore). The company is to issue 31,179 Series B preference shares at an issue price of INR 27,137 each to raise the sum.Founded in 2019 by Vinay Singhal, Shashank Vaishnav, and Parveen Singhal, Stage offers content in various languages and dialects, including Haryanvi and Rajasthani. The firm claims to have over 1.2 million paying subscribers from Haryana alone, gaining 250,000 new subscribers each month.
In Jan 2022, Stage had raised about USD 5 M from Blume Ventures and Better Capital along with participation from angel investors / syndicates including Inflection Point Ventures, TCA , Vijay Shekhar Sharma, Aprameya Radhakrishan, Akshat Rathee and Roman Saini.For FY24, Stage had reported about INR 17.89 Cr in Operating Income and about INR 22.09 Cr in Net loss.
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