Regional language-focused OTT platform Stage has raised USD 12.5 million (~INR 107.50 crore) in its Series B funding round, led by Good Water Capital and Blume Ventures. The round also included USD 2.5 million (~INR 21.50 crore) worth of secondary transactions for early investors such as Harsh Shah (co-founder of Fynd) and Aayush Phumbra (founder of Chegg). Additional participation came from Physis Capital, Mumbai Angels, The Chennai Angels, Venture Catalysts, IPV, and other existing investors.
Stage OTT
Launched in November 2019 by Vinay Singhal, Shashank Vaishnav, and Parveen Singhal, Stage is a hyper-localized OTT platform catering to regional content needs. It offers trending and informative content in languages and dialects like Haryanvi and Rajasthani, aiming to bridge cultural gaps and celebrate regional identities.
Stage’s growth trajectory has been nothing short of remarkable. The platform currently serves 20 million users, with more than 4.4 million paying subscribers. Financially, the company reported a six-fold jump in revenue to INR 17.9 crore for the fiscal year ending March 2024 (FY24), while reducing losses by 4% to INR 22.1 crore. Stage’s annual recurring revenue (ARR) stands at a robust INR 180 crore, showcasing the strong market response to regional digital content.
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Future Roadmap for Expansion
According to the company, the newly raised funds will be directed toward expanding content offerings, strengthening technology infrastructure, and connecting deeper with regional audiences. The platform’s mission remains to amplify cultural storytelling and build stronger digital communities around India’s diverse cultural heritage.
Stage operates in a fast-growing and competitive segment, with players like aha video, Chaupal, Planet Marathi, and OM TV vying for market share. Planet Marathi raised USD 5 million (~INR 43 crore) in July 2024 from U.S.-based private equity firm A & MA Capital, while Chaupal and aha video are reportedly in talks for fresh funding rounds.
Conclusion
Stage Series B round highlights the growing appetite for regional OTT platforms in India’s digital landscape. With a clear focus on cultural storytelling and community connection, Stage is well-positioned to continue scaling and serving the evolving content consumption habits of India’s regional audiences.