Playtoome gets Rs 2 crore in pre-series A investment
Bengaluru-based Playtoome, a live entertainment startup has raised ₹2 crores in pre-series A funding from India’s integrated incubator Venture Catalysts.
Other angel investors that participated in the funding round include Arihant Patni, Bhaskar Raju Konduru, CTO at Housejoy, Goverdhan Singh Jamwal, chairman of Kunwar Viyogi Memorial Trust and Akhileshwaran Krishnan, Group CFO at Apollo Hospitals.
Founded by S Keerthivasan in 2016, Playtoome provides a technology platform to connect audiences with their favourite artists to facilitate an interactive and immersive live entertainment experience.
Talking about the investment, Dr. Apoorv Ranjan Sharma, who is the Co-Founder & President of Venture Catalysts, said in a statement that, “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.”
He also stated that “We are much more confident that with the extensive domain-specific expertise of Playtoome’s founding team will help in driving aggressive growth for the venture and establishing it as a one of the largest leading player in this field.”
The platform also provides the feature of chat to interact directly with the artists and musicians, along with sharing views and opinions with your network. The startup claims to have onboarded more than 3,500 artists, along with over 50,000 fan base that keeps growing.
Playtoome last raised ₹1.5 crores in seed funding from angel investment firm Newport Holdings LLP, founded by Mr Rangarajan Narayanan, Co-Founder of EXILANT Technologies, along with participation 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, in January 2017.
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