The new investment will fuel the platform’s innovation efforts across game streaming technology and gaming content, helping it cement its leadership position as the home of Indian gaming
Loco, India’s leading homegrown game streaming platform, today announced that it has secured $9 million for its first round of fundraising as an independent company. The seed round was led by South Korean gaming firm, Krafton, as well as Lumikai, India’s first gaming and interactive media fund. The round also saw participation by Hashed, Hiro Capital, North Base Media, Axilor Ventures, and 3one4 Capital. The new investment will fuel the platform’s innovation efforts across game streaming technology and gaming content, helping it cement its leadership position as the home of Indian gaming. With this raise, Loco will be spun off into an independent entity from its parent, Pocket Aces, India’s largest digital entertainment company. Pocket Aces founders Anirudh Pandita and Ashwin Suresh will lead Loco going forward, while co-founder Aditi Shrivastava will continue to lead Pocket Aces.
Loco has been a pioneer in the live game streaming and esports sector in India, paving the way for gaming to go from a niche hobby to the mainstream national interest. The ‘Made in India’ platform is home to India’s most popular streamers such as Sc0ut, Jonathan, Mavi, Thug, Ghatak, Sumit, GTX Preet, Snax, Xyaa, GamingworldVerified, PsychoVerified, Pooja Gaming, HardCore Gamer, and me2Gaming. Loco has built highly engaged communities across various games including FreeFire, Call of Duty Mobile, Clash of Clans, Grand Theft Auto (GTA), and Valorant.
Anirudh Pandita and Ashwin Suresh, Founders of Loco, said “Loco is at the forefront of the game streaming revolution in India. Our platform empowers novice gamers to become household names and has built the foundation for the rise of a new creator economy in India. We are just getting started on our mission to build the home of Indian gaming and we will work relentlessly to make India a global gaming superpower. With this investment, we have been joined on our mission by the pioneers of the global gaming industry. This will enable us to create value for users in ways that no other game streaming platform in India can.
Source: Business World
