Regional language-focused over-the-top (OTT) platform Stage has successfully raised $12.5 million in its Series B funding round, led by Good Water Capital and Blume Ventures. This funding round also included $2.5 million worth of secondary transactions, providing exits for early angel 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.
The newly secured capital will enable Stage to expand its content library, reach a broader audience, and strengthen cultural storytelling across regional languages. The company is focused on celebrating local identities by offering engaging entertainment in Haryanvi, Rajasthani, and other regional dialects.
Founded in November 2019 by Vinay Singhal, Shashank Vaishnav, and Parveen Singhal, Stage has established itself as a hyper-localized streaming service. The company reports a user base of 20 million with 4.4 million paying subscribers.
For the fiscal year ending March 2024 (FY24), Stage recorded a remarkable six-fold increase in revenue, reaching Rs 17.9 crore, while successfully reducing its losses by 4% to Rs 22.1 crore. The company also disclosed its annual recurring revenue (ARR) at Rs 180 crore.
Stage competes with other regional OTT platforms such as aha video, Chaupal, Planet Marathi, and OM TV. In July 2024, Planet Marathi secured $5 million in funding from USA-based private equity firm A & MA Capital, while Chaupal and aha video are reportedly in discussions for new investment rounds.
With the fresh funding, Stage aims to scale its regional storytelling efforts, enhance platform capabilities, and cater to the growing demand for culturally resonant content. As India’s regional OTT space continues to expand, Stage is positioning itself as a leader in hyper-local entertainment, connecting audiences with stories that reflect their languages, traditions, and heritage.
