Venture Catalysts, India's integrated incubator has announced investment worth Rs. 2 crore into Playtoome, a live entertainment destination, via Pre-Series A investment.
Led by VCats angels, the funding round saw participation by 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 platform had earlier raised a seed round of funding of 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.
Playtoome allows users to connect with their favourite stars and watch them perform LIVE - all from the comfort of their own couch. It enables fans to use any screen of their choice - from a mobile phone, a computer, a tablet, or a Smart TV - to enjoy live performances at a fraction of the cost of attending a live concert.
"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 co-founder and president - Venture Catalysts, Dr. Apoorv Ranjan Sharma.
"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.
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