Stage is an OTT platform that plans to raise around 15 million USD from its existing and some new investors in its fresh funding round. Entrackr reported. The funding round is expected to see the participation of Blume Ventures and Goodwater Capital. The company plans to use these fresh proceeds to enhance its platform, scale its marketing efforts, and develop its market presence. The startup uses advanced technology to offer a seamless user experience.
The startup provides an OTT platform for online videos in regional languages. The company offers videos about comedy, poetry, and storytelling. The videos are provided in multiple Indian languages through virtual platforms for interested users. The platform uses cutting-edge technologies to offer high-quality video content and best user experiences at affordable prices. The startup earns its income through monthly subscription-based services.
The startup data intelligence platform, tracxn posted that stage has secured over 14.1 million USD across multiple funding rounds since its inception, including $34.4k raised from Shriram Madhav Nene in its angel funding round. The startup data intelligence platform, thekredible posted a firm’s valuation of around Rs 290 crore in its last funding round.
The Delhi-based startup intends to use this investment and enhance its services while increasing its customer reach. The application was designed to provide video content in multiple languages. The company is focused on transforming the regional OTT platforms by offering innovative solutions. The development came after the OTT platforms saw increased investor interest. The online platform offers web series, movies, and talk shows in Indian languages.
The source close to the deal told Entrackr that the startup might reach a valuation of around $80 to $100 million. The agreement for this deal has been finalized and the official announcement is expected to be held soon. After this round, the company will be valued at $100 million. The startup also received an investment of $4.8 million from Blume Ventures in its funding round. Stage also raised $2.5 million in January 2022 during its pre-series A funding round.
Stage claims to have over 1.2 million paying subscribers from Haryana. The firm posted to have gained around 250,000 new subscribers per month. The company faces competition from other regional-based OTT platforms including Planet Marathi, Chaupal, OM TV, and Aha Videos. This investment will allow the startup to expand its services across India.
Conclusion :
Regional-based OTT startup Stage plans to raise around 15 million USD from its new and existing investors in its fresh funding round. The source close to the deal told Entrackr that the existing investors including Blume Ventures and Goodwater Capital are expected to participate in the round. The startup intends to use this fresh capital to expand its offerings, advance its technologies, and enhance its platform.
The company provides online video content through its OTT platform with multiple Indian regional languages. The application offers regional video content like poetry, comedy, and more. The startup has raised around $14.1 million across multiple funding rounds since its inception.
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