Loco raises $9 Mn seed round led by Krafton and Lumikai

Video game streaming platform Loco has raised $9 million in its seed round led by Krafton, the distributor of PUBG in India and Lumikai, a gaming media fund. Hiro Capital, Axilor Ventures, 3one4 Capital and others also participated.

The Mumbai-based company will use the funds to enhance its technology and gaming content. With this raise, Loco will also spin off into an independent entity from its parent, Pocket Aces.

Founded by Anirudh Pandita and Ashwin Suresh, Loco features popular games like Clash of Clans, FreeFire and Call of Duty Mobile besides hosting top esports teams and their tournaments.

Loco claims to have scaled its monthly active viewers by six-fold, monthly active streams by ten-fold and live watch hours by 48 times since June 2020.

This is the second investment by Krafton in an Indian gaming platform. In March, esports platform Nodwin Gaming had raised Rs 164 crore from the South Korean gaming company.

Loco has become one of the top seed funded startups in India. The list includes Acko, CRED, IndMoney, Jupiter, Uni, EpiFi, Velocity and Mosaic Wellness.