The video game streaming platform Loco bas raised a funding of $9 million in the funding round which was led by Krafton, who is popularly known as it distributes PUBG in India and also the gaming media fund Lumikai.
Axilor venture, 3one4 Capital and Hiro Capital have also participated in the funding round. This Kraftons first ever investment in India being a company from South Korea.
Loco which is Mumbai based company will be having a spun off as a separate entity from the parent company Pocket Aces.
This funding will be used by loco to improve the streaming technology and the content creation.
Anirudh Pandita and Ashwin Suresh are the founder members of Loco Interactive Pte Ltd. In the past year due to the current pandemic the company’s monthly active streamers are constantly increasing 10 times and monthly active user grown 6 times.
According to our sources Pandita quoted that inexpensive phones and cheap data has brewed a perfect situation for them in India to create a completely new category of entertainment.
She added ahead that, “Over 100 million monthly active users in India engage with these games, imagine a 100 million people playing a sport that no one’s watching that’s what Loco set out to solve for.”