Venture Catalysts syndicate puts in Rs 2 Cr pre-Series A fund in Playtoome

Live entertainment platform Playtoome has raised Rs 2 crore in its pre-Series A round from integrated incubator Venture Catalysts' angel investor including Arihant Patni, Bhaskar Raju Konduru, CTO at Housejoy, Goverdhan Singh Jamwal, chairman of Kunwar Viyogi Memorial Trust and others.

The platform had earlier raised a seed round of funding of Rs 1.5 crores from an Angel Investment firm Newport Holdings LLP and from HNIs including Ramesh Sundaresan and Deb Dasgupta.

Founded by S Keerthivasan in 2016, Playtoome allows its users to chat and interact directly with their favorite artists and musicians in real-time.

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.

Currently hosting, on average, one live concert a day, 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.

Playtoome further claims to have hosted close to two hundred shows. With the fresh capital infusion, the startup will scale its operations to one hundred shows a month, reveals its press statement.

Playtoome was selected in Axilor Ventures’ Winter 2017 accelerator batch, where it was selected under internet consumer segment along with 20 other startups.

For Venture Catalysts, this is the second investment with a week. On Monday, it led Rs 4.5 crore pre-Series A round in Live-sports social engagement platform Rooter.

Focused on early-stage startups, Venture Catalysts invests had earlier invested over 10 startups this year including eyewear brand ClearDekho, Ideal Insurance, Innersense, crowdfunding platform ImpactGuru, re-commerce marketplace CoutLoot, among others.