Loco raises $9 million from investors including Krafton
Loco, an Indian game streaming platform, has raised $ 9 million from investors including Korean game developer Krafton Inc., in its first fundraising effort. The startup was backed by gaming media fund Lumikai, Hiro Capital, 3one4 Capital and Axilor Ventures.
The startup will use this money to upgrade its content and technology. Founded by Anirudh Pandita and Ashwin Suresh as Loco Interactive Pte, It was a part of Pocket Aces Pvt, a digital studio that created streaming content and web series. The gaming startup will be spun off from Pocket Aces after the funding.
While gaming on desktops and consoles did not take off in India, mobile gaming and esports is a fast growing genre. Loco features some of the country’s best known streaming who play games such as Clash of Kings, Call of Duty Mobile, FreeFire and hosts top esports teams and tournaments.