The Indian-based esports and game streaming service Loco has secured $42 million in a Series A investment round.
The blockchain-focused firm Hashed Hashed, a blockchain firm, led the round.
It also featured participants from Krafton, Makers Fund, Catamaran Ventures, Lumikai, Hiro Capital, and Korea Investment Partners.
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Krafton previously invested in the company in June 2021. He also led the company’s seed round, which raised $9 million.
He was joined by returning investment from Lumikai as well as Hiro Capital. The recent round increases the company’s total investment up to $51 million.
Loco has said that it plans to use the funds to speed up its streaming technology and content initiatives.
The transformation of entertainment
This platform is attracting many popular Indian content creators. It has developed a strong community around various games, such as Battlegrounds Mobile India, Call of Duty: Mobile, Clash of Clans, and many more.
“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,” said Loco co-founders Anirudh Pandita and Ashwin Suresh.
Hashed founder and co-founder Ethan Kim commented: “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.”
This week ESL Gaming announced a collaboration with Qualcomm to host mobile esports events worldwide, beginning by launching Snapdragon Pro Series. Snapdragon Pro Series
