Regional video streaming platform Stage on March 21 announced that it has raised $12.5 million in Series B funding led by Goodwater Capital and Blume Ventures to accelerate its expansion.
The round also saw participation from Physis Capital, Mumbai Angels, The Chennai Angels, Venture Catalysts, IPV, Fynd co-founder Harsh Shah, Chegg founder Aayush Phumbra and other existing angels.
The financing comprised $10 million in primary capital and $2.5 million in secondary capital, the company said.
Stage plans to use the funds raised this year to expand into new cultures while strengthening its presence in existing ones.
Founded in 2019 by Vinay Singhal, Parveen Singhal, Shashank Vaishnav, and Harsh Mani Tripathi, the service currently offers over 390 hours of content in Haryanvi and over 183 hours in Rajasthani. It has also recently expanded into Bhojpuri content. Stage offers this content for Rs 199 on a three-month subscription plan.
"This funding isn’t just about capital — it’s a resounding validation of India’s regional cultures. For too long, dialects like Haryanvi or Bhojpuri have been seen as a liability. We’re proving otherwise" said Stage co-founder Vinay Singhal.
Stage co-founder Shashank Vaishnav added “This capital enables us to scale India's only multi-regional content movement — one that’s rooted in constructive storytelling, and cultural pride.”
"Stage is rewriting India’s entertainment landscape. By amplifying underrepresented voices, empowering local creators, and making regional dialects aspirational, Stage is not just shaping content—it’s shaping culture" said Innov8 founder Dr. Ritesh Malik, who is a board member of Stage.
The startup claims to have garnered over 20 million app installs to date. It has around 4.4 million paying households and an annual recurring revenue (ARR) of Rs 180 crore.
Stage claims that it has witnessed 286 percent growth in subscribers and a 289 percent surge in revenue in the past year, driven by its original titles such as Videshi Bahu (Haryanvi), Kaand 2010 (Haryanvi), and Bhawani (Rajasthani) and national award winning Dada Lakhmi featuring Bollywood veterans like Yashpal Sharma.
"When we first met Stage, we saw a mission to preserve local culture and language and create a sense of pride, identity and employment within those regions. It was a free Haryanvi app waiting to take the first step towards subscription" said Blume Ventures partner Karthik Reddy.
Reddy added that it was very "satisfying to see it bloom to 15 crore a month when skeptics said no one will pay or watch this as primary content"
Other regional streaming services in the country include Hoichoi, Aha, SunNxt, and Chaupal.
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