Loco, an Indian game streaming app, has raised $9 million (CR66.7+INR) under the leadership of Korean gaming company and PUBG maker Krafton.
Loco is India's leading live game streaming platform designed in India for the Indian gaming community which has grown tremendously over the past few years. Loco also contains game tutorials, game skills from top Indian streamers.
Krafton is a game developer for PC and mobile devices that focuses on fantasy games as well as battle royale games. Krafton has invested in many companies such as PUBG Corp. and Nodwin Games . He also donated Rs 1.5 crores to the Covid-19 relief fund in India.
Locomotive was able to raise $9 million in funding and PUBG maker Krafton took the lead in that funding. Others have also participated in the financing, such as Axilor Ventures which provides a platform to support start-ups, Hiro Capital and 3one4 capital.
Related: PUBG Owner's Net Worth Expected To Hit 3.5 Billion With Krafton's Landmark
This was Loco's first-ever fundraiser, as it wanted to expand its scope for game live streaming in India, which has seen massive popularity, especially during the pandemic. The initial funding round was also supported by Lumikai. PUBG maker Krafton has also invested $22.5 million in Nodwin Gaming, a Haryana-based gaming and ESports company. It has also released Battlegrounds Mobile India Early Access, a battle royale game specially designed for Indian users.
Anirudh Pandita and Ashwin Suresh, founders of Loco, said in an interview
“Loco is at the forefront of the game streaming revolution in India. Our platform empowers novice gamers to become household names and has built the foundation for the rise of a new creator economy in India. We are just getting started on our mission to build the home of Indian gaming and we will work relentlessly to make India a global gaming superpower."
They added,
"With this investment, we have been joined on our mission by the pioneers of the global gaming industry. This will enable us to create value for users in ways that no other game streaming platform in India can.”
Loco has been growing in popularity over the months and is the go-to platform for renowned online streamers from India such as Scout, Mortal, Jonathan, Mavi as well as Ghatak. With this investment, it is expected that the future of the gaming community in India will take new turns, which will encourage young gamers to pursue careers in the esports industry.
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