Playtoome, a live entertainment destination which enables fans to interactively experience concerts and performances from their favorite artists, has raised Rs. 2 crores from Venture Catalysts.
The Pre-Series A investment saw participation from VCats angels including, Arihant Patni, serial entrepreneur Bhaskar Raju Konduru, Founding member of Red Bus & current CTO at Housejoy, Goverdhan Singh Jamwal, Chairman Kunwar Viyogi Memorial Trust, philanthropist and art and culture activist, Akhileshwaran Krishnan-Group CFO at Apollo Hospitals.
“The online live entertainment domain in India is growing at a rapid pace and will be a multimillion dollar opportunity in the near future. With a robust technological framework to support its operations, Playtoome is well-poised to capitalize on this emergent market sector. We are confident that the extensive domain-specific expertise of Playtoome’s founding team will help in driving aggressive growth for the venture and establishing it as a leading industry player,” said Dr. Apoorv Ranjan Sharma, Co-Founder & President – Venture Catalysts.
Founded in 2016 by S. Keerthivasan and Rahul Jain, Playtoome allows users to connect with their favorite stars and watch them perform LIVE using a mobile phone, a computer, a tablet, or a Smart TV. Furthermore, it allows them to chat and interact directly with their favorite artistes and musicians in real-time.
Playtoome has already brought on board over three thousand and five hundred artists and has a customer base of more than over fifty thousand ardent fans growing everyday. The platform has already hosted close to two hundred shows.
“The investment from Venture Catalysts gives a big boost to that vision. This association provides us with the capital infusion necessary to scale our operations to one hundred shows a month, and also unlocks access to key mentorship and networking opportunities critical to the growth of any emerging start-up,” said founder and CEO Playtoome.com, S Keerthivasan.
The Bangalore-based startup had previously raised Rs. 1.5 crores from an Angel Investment firm Newport Holdings LLP, founded by Rangarajan Narayanan (Co- Founder EXILANT Technologies) and from HNIs including Ex Global commodity financial services leader Ramesh Sundaresan at OLAM international, and Deb Dasgupta, Global Alliance Director at Red Hat New York.