India’s Loco raises seed funding from PUBG brand owner, Krafton

Loco, India’s leading homegrown game streaming platform, has raised $9 million for its first round of fundraising as an independent company. The seed round is led by South Korean gaming company Krafton, as well as Lumikai, India’s first gaming and interactive media fund. South Korean gaming company Krafton owns the PUBG mobile game. In India, the PUBG Mobile license was owned by China’s Tencent Holdings when it was banned last year.
The round also saw participation from Hashed, Hiro Capital, North Base Media, Axilor Ventures and 3one4 Capital. The new investment is intended to fuel the platform’s efforts in game streaming technology and game content, enabling it to strengthen its position. Locomotive will be spun off into an independent entity from its parent company, Pocket Aces, a Gadgetlinkal entertainment company. Pocket Aces founders Anirudh Pandita and Ashwin Suresh will lead Loco going forward, while co-founder Aditi Shrivastava will continue to lead Pocket Aces.
Krafton recently launched PUBG in a new avatar: Battlegrounds Mobile India. It is a slightly modified version of PUBG India.
the ‘Made in India‘ platform is home to India’s popular streamers such as Sc0ut, Jonathan, Mavi, Thug, Ghatak, Sumit, GTX Preet, Snax, Xyaa, GamingworldVerified, PsychoVerified, Pooja Gaming, HardCore Gamer and me2Gaming. Loco has built communities in several games, including FreeFire, Call of Duty Mobile, Clash of Clans, Grand Theft Auto (GTA), and Valorant. The platform hosts India’s top esports teams such as TSM, IND, 8-bit/Soul, and has hosted the country’s biggest tournaments in partnership with global publishers such as Activision, Ubisoft and Riot Games. It is also building in-game integrations with international partners. In addition to these partnerships, Loco has also partnered with NBA, Logitech and Red Bull to run India-focused esports programs.
Anirudh Pandita and Ashwin Suresh, founders of Loco, said: “Loco is at the forefront of the game streaming revolution in India. Our platform empowers budding gamers to become household names and has laid the foundation for the emergence of a new creative economy in India. We have just begun our mission to build the home of Indian gaming and we will work relentlessly to make India a global gaming superpower.With this investment we are joined on our mission by the pioneers of the global gaming This allows us to create value for users in a way that no other game streaming platform in India can.”
Sean Hyunil Sohn, Head of Corporate Development at KRAFTON, said: “At KRAFTON, we believe that gamers’ appetites are only growing in consuming live video game content and Loco is best placed in India to provide a world-class game streaming platform. offer and it has a passionate community around it.” He added: “Krafton plans to continue to invest heavily not only in gaming, but also technology, media and other related areas to support and participate in the growth of these sectors in India.”

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