Game streaming platform Loco raises Rs 330 crore in Series A funding rounds in India
The Series A funding round is being led by crypto major, Hashed, with participation from Makers Fund, Catamaran Ventures, and Korea Investment Partners
Game streaming platform Loco today announced that it has secured Rs 330 crore ($42 Million) investment led by Hashed, with participation from Makers Fund, Catamaran Ventures, and Korea Investment Partners. All the investors from the company’s seed round including Krafton, Lumikai, and Hiro Capital also participated in this round.
The new investment will cement Loco’s current leadership position in-game streaming and further accelerate the company’s streaming technology and content initiatives. With its new fundraise, Loco will continue investing in the development of the Indian gaming ecosystem and nurturing the Indian gaming community.
Anirudh Pandita and Ashwin Suresh, Founders of Loco, said “We started Loco with a mission to democratize gaming and this investment will help us make significant progress towards our end goal. Today, we are the platform where gamers go from being newbies to becoming gaming superstars. We are the campfire for the gaming community - from beginners to the best, they are all here on Loco. Loco is turbocharging the modern fan experience, enabling users to interact with streamers in ways they could not have done before. We are enabling gamers to find their own gaming clan - supporting streamers they love, in a community where they truly belong. Loco is actively transforming the entertainment experience for Indian users and we are excited about the new investors joining us in building the future of entertainment.”
Ethan Kim, Co-founder and Partner, Hashed, said “We are thrilled to partner with Loco as their lead Series A investor. Loco is the leader in game streaming in India and has the country’s most engaged community of gamers on its platform. Users between the ages of 10 and 30 form the bedrock of gaming and esports communities worldwide and India is one of the most interesting global gaming markets, with 40% of its population belonging to this cohort. We believe this new investment round will enable Loco to solidify its dominant position in-game streaming and eventually provide the Indian gaming community with cutting-edge Web3 products and services.”
Loco has been a pioneer in the live game streaming and esports sector in India. The platform houses India’s top esports teams like Godlike, XO, Revenant Esports, 8bit, Global Esports, 7Sea esports, Skylightz Gaming, Hyderabad Hydras, OrangutanGaming and has hosted the country’s largest tournaments in partnership with global publishers like Krafton, Activision, Ubisoft, and Riot Games. The company believes that gaming will define the customer entertainment experience over the next decade. Powered by 5G, gaming will make entertainment more immersive, providing users with immensely enjoyable social experiences in virtual worlds.
