Stage, a regional language-focused OTT platform, is close to finalizing a $15 million funding round, marking a significant investment led by Goodwater Capital with support from existing investors. According to sources, the deal is nearly set, with only final approvals pending.
Goodwater Capital Leads, Blume Ventures Rejoins
Sources familiar with the funding details disclosed that Goodwater Capital has offered a term sheet to lead the upcoming round, while previous investors, including Blume Ventures, are also participating. Blume Ventures previously led a $4.8 million round in January 2023, and the company had raised additional funds in earlier rounds, including from Olympic gold medalist Neeraj Chopra.
As of Stage’s last round, the company was valued at approximately ₹290 crore (around $35 million). The new deal, expected to value Stage between $80 million and $100 million post-money, demonstrates confidence in Stage’s growth potential as it continues to scale its hyper-localized content offerings.
A Platform Focused on Regional Audiences
Founded by Vinay Singhal, Shashank Vaishnav, and Parveen Singhal in 2019, Stage has carved a niche by catering to regional audiences with content in dialects like Haryanvi and Rajasthani. With over 1.2 million subscribers from Haryana alone and a growth rate of 250,000 new subscribers each month, Stage has positioned itself as a leading player in regional OTT.
Stage’s offerings span trending, entertaining, and informative material specifically tailored to local languages, which have proven immensely popular as regional content demand rises across India.
Rising Competition in Regional OTT Space
Stage is not alone in its regional OTT ambitions. The platform faces competition from similar players like aha video, Chaupal, Planet Marathi, and OM TV, all of which are targeting India’s regional content market. In July, Planet Marathi raised $5 million from USA-based A & MA Capital, while aha video and Chaupal are reportedly in the process of raising additional funds.
This increased activity aligns with findings from the latest Ficci-EY media report, which projects vernacular content to constitute 55% of total OTT production, driven by the demand for dubbed and subtitled regional content. With regional OTT expanding, Stage is set to capitalize on this growing interest.
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