Stage11 raises $5.8 million in seed round led by VC fund Otium Capital

Stage11 raises $5.8 million in seed round led by VC fund Otium Capital

Stage11, an immersive music experience start-up based out of Paris, France, has reportedly raised over $5.8 million (€5 million) in a seed funding round led by European venture capital business, Otium Capital, and backed by Jonathan Belolo, Stage11’s CEO and founder.

According to reports, Belolo also co-owns Scorpio Music in France, which has been in the music industry for more than 45 years.

Stage11 has speculatively announced key collaborations with musicians such as Snoop Dogg, Martin Garrix, David Guetta, Akon, Ne-Yo, Salif Gueye, a French viral street dance performer. Additionally it has also a strategic fashion tie-up with Institut Français de la Mode.

In the meantime, by using the multimillion-dollar funding to onboard strategic recruits, sign important artist and brand collaborations, as well as build its technological platform, Stage11 claims to have ‘begun its journey to rethink music for the metaverse’.

Among the new hires, are executives who were previously associated with enterprises such as Ferrari, Facebook Oculus, Assassin’s Creed, LVMH, Microsoft Kinect, Marvel Avengers, Happy Feet, Virgin, and Nike.

Stage11, which was launched in 2020 and has operations in both Paris and Los Angeles, aims to tap into a number of today's trendiest businesses, including gaming, AR/VR, virtual events, as well as digital goods.

By integrating gaming, mixed reality, and digital collectibles, the business professes to be reaching out to reinvent the overall interactive music experience.

Stage11 further claims that the company will accomplish its goal by establishing a new intellectual canvas for musicians to allow fans to live, play, and create throughout their shows and musical worlds.

Belolo stated that the company is trying to combine realities, genres, and cultures to create something unique, adventurous, and timeless while still being approachable and enjoyable.

Pierre-Edouard Stérin, the founder of Otium Capital, stated that Otium is an entrepreneur before an investor and Stage 11 is an ideal choice, Especially considering that gaming, entertainment, and digital are an integral part of the company’s expertise.

Martin Garrix is presently working with Stage11 for an upcoming virtual show, which is anticipated to release soon.