Indian game streaming platform Loco today announced that it has raised $9 Mn, which was led by PUBG creators Krafton and Lumikai Funds which India’s first gaming and interactive media fund. Hashed, Hiro Capital, North Base Media, Axilor Ventures, and 3one4 Capital also participated.
Loco will use this fund to improve its game streaming technology and media creation. Loco will also become an independent entity from Pocket Aces, its parent company, post this investment. Pocket Aces founders Anirudh Pandita and Ashwin Suresh will head while Pocket Aces will come under Aditi Shrivastava, Pocket Aces co-founder.
Krafton said in a statement, "At KRAFTON, we believe gamers’ appetite is only increasing in consuming live video game content and Loco is best placed in India to provide a world class game streaming platform and it has built a passionate community around itself."
"Krafton plans to keep investing heavily not just in gaming, but also tech, media, and other related areas to support and participate in the growth of these sectors in India."
Krafton had also invested $22.5 Mn in India's Nodwin Gaming.