Total amount raised
$52.3 Million
Latest funding date
3/1/2022
Location
Loco has participated in two funding rounds, with notable investors including NuVentures and Hiro Capital. The platform offers free online gaming, esports tournaments, and live streaming services.
Keep reading to explore the intricacies of Loco's fundraising journey and the investors backing this innovative platform.
What Is Loco?
Loco is an Indian game streaming platform based in Mumbai, Maharashtra. The company operates in the gaming, video streaming, and blockchain industries, offering free online gaming, esports tournaments, and live streaming services.
Acquired by Redwood Technologies, Loco has an employee count ranging from 101 to 250. The platform aims to create a vibrant community for gamers to engage in competitive play and watch live gaming content.
How Much Funding Has Loco Raised?
- Seed Round
- Amount Raised: USD 9,000,000
- Date: June 2021
- Lead Investors: Krafton, Lumikai
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The seed round facilitated Loco's separation from its parent company, Pocket Aces, and supported its initial growth and development.
- Series A
- Amount Raised: USD 42,000,000
- Date: March 2022
- Lead Investors: Hashed, Catamaran Ventures, Hiro Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The funds will be used to accelerate technology and content development, aiming to build a social experience platform for the virtual world.
Total Amount Raised: USD 51,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Krafton
- Details: Krafton is a South Korean video game holding company known for developing and publishing popular games like PUBG. The company has a significant presence in the global gaming industry.
- Investment Focus Areas: Gaming, interactive entertainment, esports.
- Notable Investments: PUBG, Subnautica, TERA.
- Hashed
- Details: Hashed is a South Korea-based venture capital firm specializing in blockchain and cryptocurrency investments. The firm aims to support the development of Web 3.0 technologies.
- Investment Focus Areas: Blockchain, Web 3.0, cryptocurrency.
- Notable Investments: Terra, Axie Infinity, The Sandbox.
- Catamaran Ventures
- Details: Catamaran Ventures is a venture capital firm founded by Narayana Murthy, co-founder of Infosys. The firm invests in early-stage and growth-stage companies across various sectors.
- Investment Focus Areas: Technology, consumer products, healthcare.
- Notable Investments: Paper Boat, Yebhi, Hector Beverages.
- Lumikai
- Details: Lumikai is a venture capital fund focused on gaming and interactive media. The firm aims to support innovative startups in the gaming industry.
- Investment Focus Areas: Gaming, interactive media, entertainment.
- Notable Investments: Bombay Play, Loco, Eloelo.
- Hiro Capital
- Details: Hiro Capital is a venture capital firm that invests in games, esports, and digital sports. The firm supports companies that are pioneering new forms of interactive entertainment.
- Investment Focus Areas: Gaming, esports, digital sports.
- Notable Investments: FitXR, Polyarc, NURVV.
What's Next for Loco?
Loco stands at the cusp of significant growth opportunities, driven by the burgeoning Indian gaming market and the increasing adoption of Web 3.0 technologies. With a highly engaged user base and strong partnerships with global brands, Loco is well-positioned to expand its platform and enhance user experiences. The platform's focus on content and technology development, particularly in areas like blockchain, offers a promising avenue for future growth.
As Loco continues to scale, it is likely to attract further investment, potentially leading to additional funding rounds. The involvement of high-profile investors and the platform's rapid growth metrics suggest a strong potential for future fundraising. However, Loco will need to navigate challenges such as competition from established players and the need to continuously innovate to maintain user engagement.
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