Local OTT startup Stage raises fresh funds

Regional over-the-top (OTT) platform Stage has raised Rs 40 crore ($4.8 million) in a funding round led by Blume Ventures.

The company also added NB Ventures, Dholakia Ventures, TSM Ventures, WeFounderCircle, Mumbai Angels, Tarmac Ventures, Tailwind Ventures, Longtail Ventures, Lets Ventures and AngelList as investors in this round.

Existing investors including Better Capital, IPV, TCA, Venture Catalysts along with some angels also participated in the round.

The latest round brings the total capital raised by Stage to Rs 71 crore ($8.6 million).

Founded in November 2019 by Vinay Singhal, Shashank Vaishnav, Parveen Singhal, Stage is a dialect-based, hyperlocal OTT platform operating on a freemium model.

It started with producing Haryana-based content in 2019, which includes Akhada, Group-D, among others. It also launched the Rajasthani dialect in June 2022, where it has garnered over 10,000 subscribers. VCCircle