Indian Economy News

India's gaming startup Loco gets $42 mn from South Korea's Hashed, others

  • IBEF
  • March 11, 2022

India’s live-streamed games company Loco has raised US$ 42 million in funding, led by South Korea’s early-stage venture fund Hashed. The funding will be used to speed up the development of streaming technology, content creation, and the gamer and creator ecosystem.

This funding round will boost the two-year-old startup's valuation to around US$ 200 million.

The games company said that the Series A round included new investors such as Makers Fund, outsourcing billionaire Narayana Murthy's Catamaran Ventures, and Korea Investment Partners, as well as existing investors such as Krafton Inc., Lumikai Ltd., and Hiro Capital.

Since January of last year, Loco's daily user counts have increased by over 15 times, while "live watch hours," the amount of time users spend watching live-streamed games, has increased by about 80 times.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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