Neeraj Chopra-backed Stage Raises $12.5 Million in Series B Funding
Stage, the Neeraj Chopra backed platform that is also known as the Netflix of Bharat, has raised $12.5 million in its Series B round. The round was spearheaded by GoodwaterCap and BlumeVentures, and a further $2.5 million was dedicated to secondary sales to angel investors like Harsh Shah (co-founder of Fynd) and Aayush Phumbra (Chegg founder).
Other investors in the round were Stage, the Neeraj Chopra-backed platform that is also known as the Netflix of Bharat, has raised $12.5 million in its Series B round. The round was spearheaded by GoodwaterCap and BlumeVentures, and a further $2.5 million was dedicated to secondary sales to angel investors like Harsh Shah (co-founder of Fynd) and Aayush Phumbra (Chegg founder).
Other investors in the round were Physis Capital, Mumbai Angels, The Chennai Angels, Venture Catalysts, Inflection Point Ventures (IPV), and a few other existing investors.
ISN was the first to break the news on Stage's ongoing talks for this Series B funding round last October.
What is Stage?
Stage was founded by Vinay Singhal, Shashank Vaishnav, and Parveen Singhal. Stage is a hyperlocal video entertainment platform that is an OTT (over-the-top) media service, much like Netflix, Amazon Prime, and Hotstar.
Stage stands out by providing dialect-based content specific to audiences in states such as Haryana and Rajasthan, for those who prefer watching content in Haryanvi and Rajasthani languages.
The platform now has 20 million users and more than 4.4 million paid subscribers. Its annual recurring revenue (ARR) is around $24 million.
The financials of the company, however, have taken a slight hit, with its FY23 revenue declining to $3.5 million from $4.6 million in FY22, as per available data on Tracxn ,Mumbai Angels. The Chennai Angels, Venture Catalysts, Inflection Point Ventures (IPV), and a few other existing investors.
ISN was the first to break the news on Stage's ongoing talks for this Series B funding round last October.
Other investors in the round were Stage, the Neeraj Chopra-backed platform that is also known as the Netflix of Bharat, has raised $12.5 million in its Series B round. The round was spearheaded by GoodwaterCap and BlumeVentures, and a further $2.5 million was dedicated to secondary sales to angel investors like Harsh Shah (co-founder of Fynd) and Aayush Phumbra (Chegg founder).
Other investors in the round were Physis Capital, Mumbai Angels, The Chennai Angels, Venture Catalysts, Inflection Point Ventures (IPV), and a few other existing investors.
ISN was the first to break the news on Stage's ongoing talks for this Series B funding round last October.
What is Stage?
Stage was founded by Vinay Singhal, Shashank Vaishnav, and Parveen Singhal. Stage is a hyperlocal video entertainment platform that is an OTT (over-the-top) media service, much like Netflix, Amazon Prime, and Hotstar.
Stage stands out by providing dialect-based content specific to audiences in states such as Haryana and Rajasthan, for those who prefer watching content in Haryanvi and Rajasthani languages.
The platform now has 20 million users and more than 4.4 million paid subscribers. Its annual recurring revenue (ARR) is around $24 million.
The financials of the company, however, have taken a slight hit, with its FY23 revenue declining to $3.5 million from $4.6 million in FY22, as per available data on Tracxn ,Mumbai Angels. The Chennai Angels, Venture Catalysts, Inflection Point Ventures (IPV), and a few other existing investors.
ISN was the first to break the news on Stage's ongoing talks for this Series B funding round last October.
