Venture Catalysts announced their investment in Playtoome, a live entertainment destination which enables fans to interactively experience concerts and performances from their favourite artists. The Pre-Series A investment of INR 2 crore was led by VCats angels including Arihant Patni, serial entrepreneur, Bhaskar Raju Konduru, Founding member of Red Bus and 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 funding is expected to provide a significant boost to the growing online live entertainment space in India.
Playtoome had earlier raised a seed round of funding of INR 1.5 crores from an Angel Investment firm Newport Holdings LLP, founded by Mr Rangarajan Narayanan (Co- Founder EXILANT Technologies) and from HNIs including Ex Global commodity financial services leader Mr. Ramesh Sundaresan at OLAM international and Mr. Deb Dasgupta, Global Alliance Director at Red Hat New York.
Founded by S Keerthivasan in 2016, the platform allows users to connect with their favourite stars and watch them perform live – from anywhere. It enables fans to use any screen of their choice – from a mobile phone, a computer, a tablet, or a Smart TV – to enjoy performances at a fraction of the cost of attending a live concert. What makes its value proposition more attractive is the fact that it allows its users to chat and interact directly with artistes and musicians in real-time.
Playtoome also helps artists associated with its platform to build a dedicated fan base and earn while performing. Currently, they claim to host, on average, one live concert a day, from over three thousand and five hundred artists and supposedly has a customer base of more than fifty thousand fans.
“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 S Keerthivasan, Founder and CEO of Playtoome.com.