Language-specific over-the-top (OTT) platform With the help of Blume Ventures and Goodwater Capital, Stage is raising Rs. 84.6 crore, or around $10 million, in its Series B financing.

According to its regulatory filing obtained from the Registrar of Companies, the board at Stage has voted a special resolution to issue 31,179 Series B preference shares at an issue price of Rs. 27,137 apiece in order to raise Rs. 84.6 crore, or $10 million.

Blume Ventures will contribute Rs. 26 crore, while Goodwater Capital is heading the round with an investment of Rs 41.95 crore. Together, angels and other investors—including LV Angel, TSM Ventures, Brew Opportunities, and 27 other participants—will raise the final sum.

The startup data analytics platform TheKredible estimates that the company's post-allotment valuation will be approximately Rs. 674 crore, or $80 million.

By the time this Series B investment round concludes, Stage will have raised about $19 million overall. With a 13.03% stake, Blume Ventures will be the largest external owner, followed by Goodwater Capital, which will own 6.24% of the business, according to documents Entrackr analyzed.

Stage is a hyper-localized over-the-top (OTT) platform that was launched in November 2019 by Vinay Singhal, Shashank Vaishnav, and Parveen Singhal. It provides trendy, entertaining, and educational content in a number of languages and dialects, including Rajasthani and Haryanvi.

According to the company, it has over 1.2 million paying customers in Haryana alone, and it adds 250,000 new customers every month.