Indore-based STAGE, World's first OTT platform in local Indian languages/dialect, has raised Rs 40 crore in funding round led by Blume Ventures, reported Economic Times.
STAGE is an Indian language content platform (OTT) for artist led entertainment such as poetry, comedy and storytelling etc.
Other investors who participated in the latest round of funding include NB Ventures, Dholakia Ventures, TSM Ventures, WeFounderCircle, Mumbai Angels, and Tarmac Ventures, among others, reported Economic Times.
Existing investors Better Capital, IPV, TCA, and Venture Catalysts also participated in the funding round.
The startup plans to use the freshly raised funds in going deeper into Haryana and Rajasthan region, and create more original content and grow the product.
The startup also plans to capture 10% of the 25 million-plus households watching video content in Haryana and Rajasthan by mid-2024. By 2027, STAGE plan to launch in the top 20 dialects of the country, which have the potential to reach 200 million-plus Households.
Founded in 2019, by Praveen Singhal, Shashank Vaishnav and Vinay Singhal, STAGE allows the artists to create local standup content for the local audience in their local context and dialects, a "STAGE" that allows the artists to distribute and monetize their content, a STAGE that allows the audience to discover highly curated local standup content that connects with them.
Last year in March, STAGE raised Rs 3.5 crore in an angel round led by Inflection Point Ventures. Paytm’s founder Vijay Shekhar Sharma also participated in the funding in his personal capacity, along with Sprout Investment Fund and Giridhar Malpani, founder of Climber Capital.
Currently, STAGE offers content in Haryanvi and Rajasthani languages only and is available on Mobile (android and iOS), TV, Web and Tablets.
STAGE also offers a VIP service which allows users to consume premium web series and videos through a subscription.
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