On a day when it was known that Krafton Inc had invested in Indian audio platform KuKu, it has also emerged that the Korean gaming giant has chipped in with funds to Indian video gaming platform Loco. Krafton had also previously invested in Loco.
But the latest Series A funding in Loco was led by crypto major, Hashed, with participation from Makers Fund and Catamaran Ventures. In all, the Loco has raised Rs 330 crores ($42 million) investment. All the investors from the company’s seed round including Krafton, Lumikai, and Hiro Capital also participated in this round.
Loco said it would use the funds to further accelerate the company’s streaming technology and content initiatives.
Loco has partnered with several game publishers
Loco has built a direct API integration with Krafton, and the company is also in the process of building in-game integrations with other international partners. In addition to these partnerships, Loco has teamed up with NBA, Logitech, and Red Bull to run India-focused esports programs.
Anirudh Pandita and Ashwin Suresh, Founders of Loco, said "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."
Loco, which is into live game streaming and esports, is home to India’s popular streamers. Loco says it has built engaged communities across various games including BGMI, Call of Duty Mobile, Clash of Clans, Grand Theft Auto (GTA), and Valorant. The platform houses India’s top esports teams like Godlike, XO, Revenant Esports, 8bit, Global Esports, 7Sea esports, Skylightz Gaming, Hyderabad Hydras, and OrangutanGaming and has hosted tournaments in partnership with global publishers like Krafton, Activision, Ubisoft, and Riot Games.
The company claims that gaming will define the customer entertainment experience over the next decade.
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Over three decades as a journalist covering current affairs, politics, sports and now technology. Former Editor of News Today, writer of humour columns across publications and a hardcore cricket and cinema enthusiast. He writes about technology trends and suggest movies and shows to watch on OTT platforms.