Dialect-Based OTT Platform STAGE Raises INR 40 Crore The fund raised will be used to go deeper in Haryana and Rajasthan, create more original content and grow the product
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Dialect-based hyperlocal OTT platform, STAGE, has raised INR 40 crore in funding led by Blume Ventures with participation from NB Ventures, Dholakia Ventures, TSM Ventures, WeFounderCircle, Mumbai Angels, Tarmac Ventures, Tailwind Ventures, Longtail Ventures, Lets Ventures and AngelList. The round also witnessed participation from Better Capital, IPV, TCA, Venture Catalysts along with some angels. The fund raised will be used to go deeper in Haryana and Rajasthan, create more original content and grow the product.
"We plan to capture 10% of over 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 top 20 dialects of the country, which have a potential to reach 200 million+ households," said Vinay Singhal, co-founder, STAGE
STAGE started with Haryanavi content in 2019 by by Vinay Singhal, Shashank Vaishnav and Parveen Singhal, now has more than 225,000 subscribers, and adds over 25,000 subscribers per month, growing 30% M-o-M. STAGE has produced many hit web series in Haryanvi including Akhada, Group-D, College Kaand, Opri Parai etc. On the back of this strong product market fit and customer love, STAGE launched the Rajasthani dialect in June 2022 and already has over 10,000 subscribers, claimed by the company in a statement.
"STAGE's slogan describes the passion and motivations 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," said Karthik Reddy, Blume Ventures.