Shark Tank S2 entrant STAGE raises ₹40 crore in a Series A round

• Indore-based Indian OTT platform STAGE claims to have more than 225,000 paid subscribers in Haryana and Rajasthan.
  
• The startup aims to launch content in the top 20 dialects in India, which have the potential to reach more than 200 million households.
  
• NB Ventures, Dholakia Ventures, TSM EnterprisesWe Founder Circle, Mumbai Angels, asphalt companiesventures in the back, Longtail EnterprisesLets Ventures and AngelList participated in the financing round.

Dialect-based, hyperlocal OTT platform STAGE has raised ₹40 crore in Series A funding led by Blume Ventures with participation from NB Ventures, Dholakia Ventures, TSM Ventures, WeFounderCircle, Mumbai Angels, Tarmac Ventures, Tailwind Ventures, Longtail Ventures, Let’s Ventures and AngelList.

Existing investors who have participated include Better Capital, IPV, TCA, Venture Catalysts, and some Angels. The company, which also participated in Season 2 of the popular reality show Shark Tank India, previously raised ₹31 crore, bringing the total capital raised to ₹71 crore. The total valuation of the company stands at ₹290 crore as shared with https://cafe-madrid.com/ India.

The company started with Haryanavi content in 2019 and currently has over 225,000 subscribers. With more than 25,000 new subscribers each month, STAGE is growing at 30% MoM, according to company estimates.

“We plan to capture 10% of the more than 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 country’s top 20 dialects, which have the potential to reach more than 200 million households. Vinay Singhalco-founder, said STAGE.

The current web series on STAGE in Haryanvi includes
Akhada, group D, College KandOpri Parai to name a few. STAGE also launched content in the Rajasthani dialect in June 2022, which currently has over 10,000 subscribers.

“STAGE’s tagline describes the team’s passion and motivation to build on the vast diversity of languages ​​and dialects India has to offer. With two dialects launched and dozens more to build, we are excited to be partners on this journey,” Karthik Reddyco-founder and partner,
Blume Ventures said.

The OTT startup was founded in November 2019 by Vinay Singhal, Shashank Vaishnav and Parveen Singhal – the same team that previously built the popular content company WittyFeed. It was the second largest viral content company in the world, the company claims.

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