Company Intelligence Profile
Stage Technologies Private Limited
STAGE is a subscription-led, dialect-based regional OTT platform (Haryanvi, Rajasthani, Bhojpuri) operated by Stage Technologies Pvt Ltd, backed by Blume Ventures and Goodwater Capital.
Last updated 6 August 2026
Stage Technologies Private Limited operates STAGE, a subscription-led regional OTT platform featuring content in Haryanvi, Rajasthani, and Bhojpuri. By the end of FY25, the platform had approximately 20 million users and over 4.4 million paying subscribers. With a revenue of ~Rs 111 Cr, the company experienced a significant rise in subscription income, although it reported a net loss of ~Rs 28 Cr.
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Company Identity
| Registered name | Stage Technologies Private Limited |
|---|---|
| CIN | U74110DL2019PTC403234 |
| PAN | AAICC1279L (derived from GSTIN; confirmed via Delhi 07 and MP 23 GST registrations, both PAN AAICC1279L) |
| Status | Active |
| Listing | Unlisted (private limited) |
| Incorporated | 12 April 2019 |
| ROC | RoC-Delhi |
| Sector (NIC) | NIC 74110 basis CIN (professional/other activities as classified at incorporation); business is OTT video streaming / digital media & entertainment |
| Registered address |
|
| Authorized capital | Rs 36 lakh |
| Paid-up capital | Rs 7.51 lakh |
Business Overview
- Subscription-led regional (dialect-based) OTT video streaming platform offering original shows and films in languages such as Haryanvi, Rajasthani and Bhojpuri
- Founded by former WittyFeed team
- ~20M users and 4.4M+ paying subscribers at end-FY25
- ~99% of operating revenue from subscriptions
Directors & DINs
| Name | DIN | Role | Appointed |
|---|---|---|---|
| Vinay Kumar Singhal ( | 03559501 | - | - |
GST & PAN
| GSTIN | State | PAN | Status |
|---|---|---|---|
| 07AAICC1279L1ZC | Delhi | AAICC1279L (derived from GSTIN; confirmed via Delhi 07 and MP 23 GST registrations, both PAN AAICC1279L) | - |
| 23AAICC1279L1ZI | Madhya Pradesh | AAICC1279L (derived from GSTIN; confirmed via Delhi 07 and MP 23 GST registrations, both PAN AAICC1279L) | Active |
PAN AAICC1279L. Primary/home-state GSTIN (Delhi, matching CIN jurisdiction): 07AAICC1279L1ZC. Second registration (Madhya Pradesh): 23AAICC1279L1ZI (Active, Regular; Indore address). At least 2 GST registrations. Home state: Delhi. Source: piceapp GSTIN pages (derived from PAN AAICC1279L). Status: MP registration reported Active; Delhi status not separately confirmed.
Financials
- Standalone
- FY25 (ended 31 Mar 2025): Revenue from operations ~Rs 111 Cr (6.2x YoY); subscription revenue ~Rs 110 Cr (~99%); total expenses ~Rs 141 Cr; advertising/marketing spend ~Rs 115 Cr (~82% of costs); employee benefits ~Rs 12 Cr; net loss ~Rs 28 Cr (up 27%)
- EBITDA margin ~ -24%
- ROCE ~ -48.7%; cash & bank ~Rs 69 Cr; current assets ~Rs 83 Cr. FY24: Revenue ~Rs 18 Cr; total expenses ~Rs 41 Cr; net loss ~Rs 22 Cr. Exact EBITDA (absolute), PAT reconciliation, net worth and total borrowings figures: not obtained
- Standalone; no consolidated statements identified
Funding
- Total raised ~$23.8M across multiple rounds (2019 onward)
- Notable: ~Rs 40 Cr round led by Blume Ventures (Jan 2023, with NB Ventures, Dholakia Ventures, Mumbai Angels, LetsVenture, AngelList and others)
- Series B of $12.5M announced Mar 2025 led by Goodwater Capital and Blume Ventures ($10M primary + $2.5M secondary), with Physis Capital, Inflection Point Ventures, Venture Catalysts, Mumbai Angels, Harsh Shah (Fynd), Aayush Phumbhra (Chegg) and others
- Post-round valuation reported ~Rs 674 Cr (~$80M) per TheKredible
- Venture-debt investor Alteria Capital also associated
- Sources: Entrackr, YourStory, Inc42, The Tech Portal
Competitors
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