Loco, a live streaming gaming platform, announced it has raised $42 million in a funding round led by Hashed, with participation from Makers Fund, Catamaran Ventures, and Korea Investment Partners. Krafton, Lumikai, and Hiro Capital also participated in the current funding round.
“We will invest in strengthening the content side, as well as in technology development around areas like Web 3.0 and blockchain,” Loco founder Ashwin Suresh.
The company will invest in working more closely with content creators and streamers, as well as upcoming organisations who are trying to build IP around gaming tournaments and creating new content. 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 global brands like the NBA, Logitech, and Red Bull to run India-focused esports programmes.
“Loco is the leader in game streaming in India and has the country’s most engaged community of gamers on its platform. Users between the ages of 10 and 30 form the bedrock of gaming and esports communities worldwide and India is one of the most interesting global gaming markets, with 40% of its population belonging to this cohort. We believe this new investment round will enable Loco to solidify its dominant position in game streaming and eventually provide the Indian gaming community with cutting edge Web3 products and services,” said Ethan Kim, cofounder and Partner, Hashed.
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