Loco raises $9 million in funding from several investors, including the publisher of PUBG Mobile, Krafton. Loco is one of the most used live-streaming applications in India.
In the last couple of years, the gaming content creation and streaming industry has experienced an enormous boost along with the esports industry. Last year, due to the pandemic, people had to stay at home. These industries have received a considerable amount of attention.
Moreover, YouTube was the only popular streaming platform in India. However, this changed last year. In the last couple of years, various developers introduced various streaming platforms in India, including Loco, Nemo, Rooter etc. Moreover, many streamers turned from YouTube to these platforms, and some streamers simultaneously streamed on multiple platforms.
Loco was originally founded by the founders of Pocket Aces, Anirudh Pandita and Ashwin Suresh. It was owned by the digital media company Pocket Ace. However, it will become a separate entity now, which will be led by the founders of Loco, Anirudh Pandita and Ashwin Suresh.
Anirudh Pandita said that Loco views the investment as a huge opportunity to build on the profitable streaming market in India. Loco has grown its monthly active viewers and streamers by six and ten times, respectively, in the past two years.
Investments by Krafton in Indian Gaming Industry.
Krafton has eyes on the Indian gaming industry. Last year, Krafton invested $100 million in the Indian gaming industry to develop the industry in the country. Moreover, the company has plans to set up an office in India which will employ around 100 people. Moreover, it has also taken over the publication of PUBG Mobile in India.
Krafton has made some huge investments in the Indian gaming industry. They are looking forward to making a good gaming ecosystem in India. However, it will be interesting to see how Loco will compete with India’s most dominant streaming platform, i.e. Youtube.