Neeraj Chopra-backed Stage, often called the “Netflix for Bharat,” has raised $12.5 million in a Series B funding round, led by Goodwater Capital and Blume Ventures. The round also included $2.5 million in secondaries, benefiting early investors like Harsh Shah (Fynd co-founder) and Aayush Phumbra (Chegg founder).
Several other investors, including Physis Capital, Mumbai Angels, The Chennai Angels, Venture Catalysts, and Inflection Point Ventures (IPV), also participated. ISN first reported Stage’s Series B funding discussions in October last year.
Founded by Vinay Singhal, Shashank Vaishnav, and Parveen Singhal, Stage is a hyperlocal OTT platform, offering regional video content like Netflix and Amazon Prime but with a unique focus. It caters to audiences in Haryana, Rajasthan, and other dialect-based communities, delivering content in Haryanvi and Rajasthani.
With 20 million users and 4.4 million paying subscribers, Stage is making a mark in India’s digital entertainment space. The startup currently boasts an Annual Recurring Revenue (ARR) of ₹180 crore.
However, financial records on Tracxn reveal that in FY23, Stage’s revenue dropped to ₹2.94 crore from ₹3.87 crore in FY22. Despite this, its growing subscriber base signals strong potential for future expansion.
