Delhi-based OTT platform STAGE has raised INR 40 crore in funding 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 company had earlier raised INR 31 crore, taking the total capital raised to INR 71 crore.
Launched in November 2019 by Vinay Singhal, Shashank Vaishnav and Parveen Singhal, STAGE is a digital, hyper-localized, professionally curated content platform offering trending, entertaining and informative content in multiple languages and dialects.
Vinay Singhal, Founder of STAGE, said, “The capital raised will be used to penetrate deeper into Haryana and Rajasthan, create more original content and expand the product. By mid-2024, we plan to capture 10% of the more than 25 million households watching video content in Haryana and Rajasthan. 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 top 20 dialects of the country with the potential to reach 200 million+ households”.
Karthik Reddy of Blume Ventures said, “STAGE’s tagline describes the team’s passion and motivation to build for the immense diversity of languages and dialects that India has to offer. Creating quality content is the best bet to preserve our dialects and languages, and that is STAGE’s mission. With two dialects launched and dozens more to build, we’re excited to be partners in this journey.”
STAGE started with Haryanavi content in 2019 and now claims to have 225,000+ subscribers and is adding 25,000+ subscribers monthly, representing 30% year-on-year growth.
The platform has created many web series in Haryanvi including Akhada, Group-D, College Kaand, Opri Parai etc. Based on this strong product market fit and customer love, STAGE launched the Rajasthani dialect in June 2022 and already has more than 10 thousand subscribers.