Total amount raised
$52.3 Millions
Latest funding date
3/1/2022
Location
Loco has successfully raised significant funding through multiple rounds, with its latest being a Series A. The platform is dedicated to free online gaming, esports tournaments, and live streaming.
Keep reading to explore the intricacies of Loco's fundraising journey and the investors backing this innovative platform.
What Is Loco?
Loco, founded on November 1, 2017, in Mumbai, Maharashtra, India, is a dynamic game streaming platform. It offers a space for gamers to connect with the public through live streams and arcade games.
The platform was established by a team of six founders: Abhishek Madhavan, Anirudh Pandita, Ashwin Suresh, Chetan Dembre, Firasat Durrani, and Sushil Kumar. Their vision was to create a vibrant community for gamers.
Currently, Loco employs between 101 and 250 people, reflecting its growth and commitment to providing a robust gaming experience.
How Much Funding Has Loco Raised?
- Seed Round
- Amount Raised: $9M
- Date: June 2021
- Lead Investors: Krafton, Lumikai
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish Loco as a separate entity from its parent company, Pocket Aces, and to develop its game streaming services.
- Series A
- Amount Raised: $42M
- Date: March 2022
- Lead Investors: Hashed, Catamaran Ventures, Makers Fund, Korea Investment Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate technology and content development for the platform.
Total amount raised: $51M. Current valuation: Not publicly disclosed.
Key Investors
- Hashed
- Details: Hashed is a South Korean early-stage venture fund known for its focus on blockchain and cryptocurrency investments.
- Investment Focus Areas: Blockchain, cryptocurrency, gaming.
- Notable Investments: Terra, Axie Infinity, The Sandbox.
- Krafton
- Details: Krafton is a South Korean video game holding company best known for developing the popular game PUBG (PlayerUnknown's Battlegrounds).
- Investment Focus Areas: Gaming, interactive entertainment.
- Notable Investments: PUBG, TERA, Elyon.
- Lumikai
- Details: Lumikai is a venture capital fund based in India, specializing in gaming and interactive media investments.
- Investment Focus Areas: Gaming, interactive media.
- Notable Investments: Bombay Play, Loco, Lila Games.
- Hiro Capital
- Details: Hiro Capital is a London-based venture capital firm that invests in games, esports, and digital sports.
- Investment Focus Areas: Games, esports, digital sports.
- Notable Investments: FitXR, Zwift, Polyarc.
- Catamaran Ventures
- Details: Catamaran Ventures, led by NR Narayana Murthy, is an Indian venture capital firm investing across various sectors.
- Investment Focus Areas: Technology, consumer goods, healthcare.
- Notable Investments: Infosys, Paper Boat, Yulu.
What's Next for Loco?
Loco stands at the cusp of a significant opportunity in the burgeoning e-sports and game streaming market, projected to grow to $3.5 billion by 2025. With a rapidly expanding user base and strategic partnerships with global gaming giants, Loco is well-positioned to leverage Web 3.0 technologies like NFTs and the metaverse to enhance user engagement and create new revenue streams.
Given its impressive growth trajectory and the substantial $42 million Series A funding, Loco is likely to attract further investments to scale its operations and technology. However, the platform faces stiff competition from established players like YouTube Gaming and Twitch, and must continuously innovate to maintain its edge. Navigating these challenges will be crucial for Loco as it aims to solidify its position in the dynamic game streaming industry.
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