Saturday, June 25, 2022

Indian Streaming Platform Loco raises 330 cr in Series A funding led by crypto major, Hashed

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Indian Streaming Platform Loco raises 330 cr in Series A funding led by crypto major, Hashed – Loco, India’s leading game streaming platform, today announced that it has secured an INR 330 crores ($42 million) investment led by crypto major, Hashed, with participation from Makers Fund, Catamaran Ventures, and Korea Investment Partners. All the investors from the company’s seed round including Krafton, Lumikai, and Hiro Capital also participated in this round. Let’s know more about recent fundraising. For Gaming and Esports Live updates follow InsideSport.IN

Loco has been a pioneer in the live game streaming and esports sector in India, paving the way for gaming to go from a niche hobby to the mainstream national interest. Loco has built highly engaged communities across various games including BGMI, Call of Duty Mobile, Clash of Clans, Grand Theft Auto (GTA), and Valorant. The company is also in the process of building in-game integrations with other international partners.

Also Read: AMD Skyesports BGMI Grand Slam records peak live viewership with 159k on Loco, Check Details

Indian Streaming Platform Loco raises 330 cr in Series A funding led by crypto major, Hashed

Anirudh Pandita and Ashwin Suresh, Founders of Loco, said “We started Loco with a mission to democratize gaming and this investment will help us make significant progress towards our end goal. Today, we are the platform where gamers go from being newbies to becoming gaming superstars. We are the campfire for the gaming community – from beginners to the best, they are all here on Loco. Loco is turbocharging the modern fan experience, enabling users to interact with streamers in ways they could not have done before. We are enabling gamers to find their own gaming clan – supporting streamers they love, in a community where they truly belong. 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.”

Indian Streaming Platform Loco raises 330 cr in Series A funding led by crypto major, Hashed
Indian Streaming Platform Loco raises 330 cr in Series A funding led by crypto major, Hashed

Ethan Kim, Co-founder, and Partner, Hashed, said “We are thrilled to partner with Loco as their lead Series A investor. 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.”

The company believes that gaming will define the customer entertainment experience over the next decade. Powered by 5G, gaming will make entertainment more immersive, providing users with immensely enjoyable social experiences in virtual worlds. In addition, Web3 will transform the nature of ownership of virtual goods, allowing fans to participate in the entertainment process in a more meaningful manner than has ever been possible before. With these tailwinds driving consumer behavior, Loco wants to build the social experience platform for the virtual world, serving the 700 million+ Indians who will experience these virtual worlds in the coming years. For Gaming and Esports Live updates follow InsideSport.IN

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