Loco, a streaming platform for games, announced that it had received an investment of $42 million. The company, which is still in the startup phase, wants to build and develop its live broadcast platform with its investment.
Blockchain technologies firm Hashed led the investment round. Investors such as Krafton, Lumikai, Hiro Capital, Makers Fund, Korea Investment Partners, and Catamaran Ventures also took their place in the investment round.
Loco was founded in 2018 by Anirudh Pandit and Ashwin Suresh and is touted as “India’s Twitch.” After the investment, the company took action to improve its infrastructure and enrich its content.
Loco is estimated to have close to 5 million monthly users. According to these estimates, approximately 450 thousand users visit the platform daily. These statistics cannot yet be officially confirmed. On the other hand, these audience numbers may impact PUBG’s producer Krafton’s investment in Loco. The Indian version of PUBG is in high demand, and Krafton has many Indian players.
Krafton previously led another investment round for Loco. Last year, Loco raised $9 million from an investment round led by Krafton.
Anirudh Pandit says on the subject:
“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.”
