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STAGE Raises $12.5M Led by Goodwater & Blume to Champion Indian Regional Cultures

LinkedInLinkedIn · 3m ago
STAGE Raises $12.5M Led by Goodwater & Blume to Champion Indian Regional Cultures
Medial

STAGE has successfully raised $12.5 million in Series B funding, led by Goodwater Capital and Blume Ventures, with $2.5 million allocated for angel investors. This funding is seen as validation for India's regional cultures, empowering 20 million users and over 4.4 million paying households. STAGE aims to celebrate cultural identities, particularly Haryanvi, Rajasthani, and Bhojpuri, which have historically been marginalized. The platform connects generations through stories, allowing individuals to explore their roots with pride. With the new funding, STAGE plans to tell more stories and expand its cultural offerings, reinforcing that every culture matters and deserves celebration.

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Regional OTT app Stage raises $12.5 Mn in Series B

EntrackrEntrackr · 3m ago
Regional OTT app Stage raises $12.5 Mn in Series B
Medial

Regional OTT app Stage raises $12.5 Mn in Series B Regional language-focused over-the-top (OTT) platform Stage has raised $12.5 million in its Series B round led by Good Water and Blume Ventures. The round also included $2.5 million worth of secondaries for some angel investors such as Harsh Shah (co-founder of Fynd), Aayush Phumbra (founder Chegg). Physis Capital, Mumbai Angels, The Chennai Angels, Venture Catalysts, IPV and other existing investors also participated. Launched in November 2019 by Vinay Singhal, Shashank Vaishnav, and Parveen Singhal, Stage serves as a hyper-localized OTT platform, offering trending, entertaining, and informative material in various languages and dialects, including Haryanvi and Rajasthani. The firm claims to have 20 million users and over 4.4 million paying subscribers. For the fiscal year ending in March 2024 (FY24), Stage reported a six-fold jump in its revenue to Rs 17.9 crore, while it managed to reduce its losses by 4% to Rs 22.1 crore. According to the company, its current ARR stands at Rs 180 crore. In the regional OTT players, it has competitors like aha video, Chaupal, Planet Marathi, and OM TV.

Shark Tank fame OTT platform Stage in talks to raise funds in a new round

IndianStartupNewsIndianStartupNews · 9m ago
Shark Tank fame OTT platform Stage in talks to raise funds in a new round
Medial

- Stage is a hyperlocal video entertainment platform, similar to Netflix, catering to viewers in the Haryana and Rajasthan region who prefer content in Haryanvi and Rajasthani dialects. - It gained popularity after securing funding on Shark Tank season 3 from investors such as Lenskart's Peyush Bansal, Boat's Aman Gupta, and Emcure Pharma's Namita Thapar in 2023. - Stage is currently in discussions with venture capital funds, including Goodwater Capital, to raise around $7-9 million in its largest-ever funding round. - Existing investors like Blume Ventures are also expected to participate in the round to retain their ownership in the company. - Stage aims to expand into new geographies and launch shows and content in 20 different dialects over the next five years. - Since its inception in 2019, Stage has raised over Rs 100 crore from 150 backers, including institutional investors and angels.

Optimo Loan raises $10 Mn seed in round

EntrackrEntrackr · 1y ago
Optimo Loan raises $10 Mn seed in round
Medial

MSME-focused lending-tech startup Optimo Loan has raised $10 million in its seed round led by Blume and Omnivore, with additional contribution from Optimo’s founder, Prashant Pitti. The proceeds will be used to expand its operations, enhance its technology, recruit new talent, and broaden its presence to 20 locations in rural India by the end of this year, the startup said in a press release. Founded by Pitti, Optimo facilitates access to quick, easy, and flexible financing options for MSMEs. It supports businesses in investing in new technologies, increasing liquidity, and ensuring business continuity. The startup actively contributes to local job creation, economic growth, and community development. The startup is also building a co-lending platform for MSMEs with a unique underwriting method. This approach allows Optimo to gain deeper insights into the financial health of MSMEs, enabling informed lending decisions and catalyzing entrepreneurship and economic growth in rural communities. That said, early-stage India-focused venture fund Blume Ventures invests in seed and pre-Series A rounds in tech-led startups. It is presently investing via its Fund IV, a $300 million vehicle supported by institutional LPs and family offices. Following the close of Fund IV, Blume now has an AUM (Assets Under Management) of over $600 million.

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