Olympic Champion Neeraj Chopra Backs Regional OTT Platform Stage

SUMMARY

Stage made a public announcement about Neeraj Chopra’s investment in his ancestral village in Panipat, without disclosing the amount

Stage is an online entertainment platform catering to regional languages in Haryana and Rajasthan. It creates content like web series, poetry, and storytelling

Stage is backed by the likes of Blume Ventures and was last valued at INR 286 Cr during its INR 36 Cr Series A funding round earlier this year

Olympic champion Neeraj Chopra has invested in regional OTT platform Stage. However, the investment amount remains undisclosed.

Stage made a public announcement about the development in Chopra’s ancestral village in Panipat, Haryana.

Launched in 2019 by former founders of WittyFeed – Vinay Singhal, Parveen Singhal, and Shashank Vaishnav, Stage is an online entertainment platform catering to regional languages in Haryana and Rajasthan. It creates content like web series, poetry, and storytelling, among others.

The startup claims to have more than 6 Mn downloads and over 5,50,000 paying subscribers on the platform. It charges INR 400 for a year’s subscription.

Speaking about his investment in Stage, javelin thrower Chopra said it is more than just a desire to revive the flames of India’s diverse regional dialects.

“We will embark on a journey together to reawaken dormant languages and empower every voice, ensuring that our cultural heritage thrives in its true form through this platform,” he said, stressing on the importance of honouring each Indian language.

Earlier this year, Stage also participated in Shark Tank Season 2 where Vinay Singhal said that the startup has raised money in three rounds of funding so far. In 2020, Stage had raised INR 10 Cr at a pre-money valuation of INR 65 Cr.

In its pre-Series A round, led by Blume Ventures, Stage raised around INR 20 Cr, taking its valuation to INR 100 Cr. Earlier this year, it also closed a Series A funding round of INR 36 Cr, taking the valuation to INR 286 Cr.

In the recent event announcing Chopra’s investment in the startup, Vinay Singhal said, “We believe in the compelling force of storytelling and the unifying potential of regional content. Neeraj Chopra’s involvement adds an impactful and relevant dimension to our mission.”

In FY22, Stage clocked a revenue of INR 3.85 Cr.

In the regional OTT space, Stage competes with the likes of aha Video, Planet Marathi, and Hoichoi.

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