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Stage OTT Platform to Raise INR 84.61 Cr through Series B Funding to Expand Regional Content

CEO India AuthorDecember 16, 20242 Mins read19 Views

Stage, a regional over-the-top (OTT) platform founded in 2019 by Shashank Vaishnav and Vinay Singhal, is all set to raise INR 84.61 Cr (approximately $9.9 million) through the issuance of preference shares. This funding will support the platform's continued growth and expansion as it focuses on creating and delivering regional entertainment content, especially in the Haryanvi and Rajasthani languages. A Significant Investment to Fuel Regional Content Creation In a filing with the Ministry of Corporate Affairs, Stage revealed that its board of directors has approved the issuance of 31,179 Series B compulsorily convertible preference shares (CCPS) at a face value of INR 10 per share. These shares will carry a premium of INR 27,127 each, which is expected to raise the total funding of INR 84.61 Cr. The investors backing this initiative include Goodwater Capital and Blume Ventures, two prominent names in the venture capital space. Goodwater Capital, a global venture capital firm with a focus on consumer-driven investments, will contribute INR 41.95 Cr, while Blume Ventures, an early-stage investment firm with a track record of supporting innovative startups in India, will invest INR 26.01 Cr. The remaining portion of the investment is expected to be raised from other institutional investors. The decision to raise this capital marks a significant milestone for Stage as it aims to strengthen its position in the competitive OTT market, which has seen rapid growth in recent years. With this funding, Stage plans to ramp up its content production and expand its reach within regional markets. A Focus on Regional Content Stage is a unique player in the OTT landscape, primarily catering to viewers who seek content in regional languages. The platform’s content focus is specifically on Haryanvi and Rajasthani languages, which are often underrepresented in mainstream OTT services. Stage aims to provide viewers with original web series, poetry, storytelling, and films that are deeply rooted in these regional cultures. This content is designed to resonate with audiences who want to engage with narratives that reflect their local identities, traditions, and languages. Since its inception, Stage has been committed to developing regional entertainment that goes beyond the typical Bollywood or mainstream offerings. The platform is building a loyal fan base by offering diverse and authentic stories that celebrate the richness of regional cultures. From unique web series to emotionally compelling storytelling, Stage has quickly carved a niche for itself in a market where there is growing demand for regional and vernacular content. Future Prospects The new infusion of capital will play a crucial role in Stage’s plans for scaling its operations. Apart from increasing its content production, the platform intends to expand its marketing and distribution channels to reach a wider audience. As OTT consumption grows in India, especially in smaller towns and rural areas where regional content has seen a surge in popularity, Stage is well-positioned to capitalize on this trend. The funding will also allow Stage to invest in technology and improve its platform's user experience. With competition from global OTT giants and local players alike, Stage’s ability to maintain high-quality content while offering a seamless streaming experience will be crucial for sustaining its growth. Additionally, Stage plans to diversify its content offerings to cater to different audience segments within the regional space. The growth of internet penetration in India, combined with the increasing number of smartphone users, has created an opportunity for platforms like Stage to cater to an untapped audience that is seeking diverse and localized content. Conclusion Stage’s decision to raise INR 84.61 Cr in Series B funding is a strategic move that will fuel its ambitions to become a leader in the regional OTT content space. With strong backing from investors like Goodwater Capital and Blume Ventures, Stage is poised to expand its content library, enhance its platform, and solidify its presence in a rapidly evolving OTT market. By focusing on Haryanvi and Rajasthani content, Stage is not just catering to niche audiences but is also helping shape the future of regional entertainment in India.

A Significant Investment to Fuel Regional Content Creation

In a filing with the Ministry of Corporate Affairs, Stage revealed that its board of directors has approved the issuance of 31,179 Series B compulsorily convertible preference shares (CCPS) at a face value of INR 10 per share. These shares will carry a premium of INR 27,127 each, which is expected to raise the total funding of INR 84.61 Cr. The investors backing this initiative include Goodwater Capital and Blume Ventures, two prominent names in the venture capital space.

Goodwater Capital, a global venture capital firm with a focus on consumer-driven investments, will contribute INR 41.95 Cr, while Blume Ventures, an early-stage investment firm with a track record of supporting innovative startups in India, will invest INR 26.01 Cr. The remaining portion of the investment is expected to be raised from other institutional investors.

The decision to raise this capital marks a significant milestone for Stage as it aims to strengthen its position in the competitive OTT market, which has seen rapid growth in recent years. With this funding, Stage plans to ramp up its content production and expand its reach within regional markets.

A Focus on Regional Content

Stage is a unique player in the OTT landscape, primarily catering to viewers who seek content in regional languages. The platform’s content focus is specifically on Haryanvi and Rajasthani languages, which are often underrepresented in mainstream OTT services. Stage aims to provide viewers with original web series, poetry, storytelling, and films that are deeply rooted in these regional cultures. This content is designed to resonate with audiences who want to engage with narratives that reflect their local identities, traditions, and languages.

Since its inception, Stage has been committed to developing regional entertainment that goes beyond the typical Bollywood or mainstream offerings. The platform is building a loyal fan base by offering diverse and authentic stories that celebrate the richness of regional cultures. From unique web series to emotionally compelling storytelling, Stage has quickly carved a niche for itself in a market where there is growing demand for regional and vernacular content.

Future Prospects

The new infusion of capital will play a crucial role in Stage’s plans for scaling its operations. Apart from increasing its content production, the platform intends to expand its marketing and distribution channels to reach a wider audience. As OTT consumption grows in India, especially in smaller towns and rural areas where regional content has seen a surge in popularity, Stage is well-positioned to capitalize on this trend.

The funding will also allow Stage to invest in technology and improve its platform’s user experience. With competition from global OTT giants and local players alike, Stage’s ability to maintain high-quality content while offering a seamless streaming experience will be crucial for sustaining its growth.

Additionally, Stage plans to diversify its content offerings to cater to different audience segments within the regional space. The growth of internet penetration in India, combined with the increasing number of smartphone users, has created an opportunity for platforms like Stage to cater to an untapped audience that is seeking diverse and localized content.

Conclusion

Stage’s decision to raise INR 84.61 Cr in Series B funding is a strategic move that will fuel its ambitions to become a leader in the regional OTT content space. With strong backing from investors like Goodwater Capital and Blume Ventures, Stage is poised to expand its content library, enhance its platform, and solidify its presence in a rapidly evolving OTT market. By focusing on Haryanvi and Rajasthani content, Stage is not just catering to niche audiences but is also helping shape the future of regional entertainment in India.