PE Fund Investments
Game streaming platform Loco raises $42-M from South Korea's Hashed, Catamaran, others
Mumbai-headquartered game streaming platform Loco has raised USD 42 million led by South Korean early-stage venture fund, Hashed. The Series A investment round saw participation from new investors such as Makers Fund, Narayana Murthy's family office fund Catamaran Ventures and Korea Investment Partners as well as existing investors including Krafton Inc., Lumikai Ltd. and Hiro Capital. The new investment will support acceleration in streaming technologies, content creation and developing the gamer and creator ecosystem. Founded by Anirudh Pandita and Ashwin Suresh, Loco has built engaged communities across various games including FreeFire, Call of Duty Mobile, Clash of Clans, Grand Theft Auto (GTA), and Valorant. The platform houses e-sports teams like TSM, IND, and 8-bit/Soul and has hosted tournaments in partnership with global publishers like Activision, Ubisoft, and Riot Games. Loco claims to have amassed 5.3 million monthly active users, 450,000 of whom use the service each day. Loco had raised USD 9 million in seed funding in June last year which it used towards improving the streaming technology and providing more interactive features for both viewers and streamers to interact and create better content.
From the Venture Intelligence PE-VC Deal Database: In Jun-21, Loco raised funding from Lumikai.
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