VC Fund Investments
Video games streaming platform Loco raises $9-M from PUBG owner, Lumikai, others
Mumbai-based Loco, a streaming platform for video games, has raised USD 9 million from investors including South Korean gaming company Krafton Inc. The startup, which is a spin off from online content startup Pocket Aces, was also backed in its seed round by Lumikai (a gaming media fund), London-based Hiro Capital and other VC investors including 3one4 Capital and Axilor Ventures. Loco will use the funds to upgrade its technology and content. Krafton's PUBG Mobile, previously distributed in India by Tencent Holdings Ltd, had been among the popular games in India before it was banned last year. It is now re-entering the market. Loco Interactive Pte was founded by Anirudh Pandita and Ashwin Suresh, alumni of the University of Illinois at Urbana-Champaign. The duo went on to work on Wall Street before starting Pocket Aces Pvt, a digital studio creating streaming content to provide an alternative to traditional television entertainment.
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