New Delhi, March 10 (SocialNews.XYZ) Game streaming platform Loco on Thursday announced that it has secured a Rs 330 crore ($42 million) investment led by Hashed, with participation from Makers Fund, Catamaran Ventures and Korea Investment Partners.
The platform said that the new investment will cement Loco's current leadership position in game streaming and further accelerate the company's streaming technology and content initiatives. With its new fundraise, Loco will continue investing in the development of the Indian gaming ecosystem and nurturing the Indian gaming community.
"We started Loco with a mission to democratize gaming and this investment will help us make significant progress towards our end goal," Anirudh Pandita and Ashwin Suresh, Founders of Loco, said in a statement.
"Today, we are the platform where gamers go from being newbies to becoming gaming superstars. We are the campfire for the gaming community -- from beginners to the best, they are all here on Loco," they added.
Loco has been a pioneer in the live game streaming and esports sector in India, paving the way for gaming to go from a niche hobby to a mainstream national interest.
The 'Made in India' platform has built highly engaged communities across various games including BGMI, Call of Duty Mobile, Clash of Clans, Grand Theft Auto (GTA), and Valorant. Moreover, the platform's focus on mobile gaming communities helps it serve those communities in ways that desktop-focused platforms have not been able to do.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz