One of the most popular live-streaming applications in India, Loco, secured $9 million in funding from several investors, including the name of the owners of PUBG Mobile, Krafton Inc.
During the last year, the content creation and streaming industries have experienced a considerable boost due to the prevalent conditions. People were forced to stay indoors because of the pandemic and sought out alternative activities to keep themselves occupied.
Many platforms have experienced a surge in viewership, with millions tuning in to watch their favorite games.
Loco receives $9 million from investors, including the owner of PUBG Mobile.
Loco features an array of some of the most prominent faces in the Indian community, with Ghatak, Mavi, Scout, and Jonathan, to name a few.
The platform has expanded rapidly in the previous year. According to a report by Bloomberg, its userbase grew more than six times while the active streamers increased by 10 times. The report adds that Loco plans to utilize the funds to improve technology and overall content.
Anirudh Pandita, the co-founder of Pocket Aces Pvt, said in an interview:
“Cheap data and inexpensive phones brewed a perfect situation in India, creating a completely new category of entertainment.”
He further added:
“Over 100 million monthly active users in India engage with these games; imagine 100 million people playing a sport that no one’s watching — that’s what Loco set out to solve for.”
According to Ashwin Suresh, co-founder of Pocket Aces Pvt:
“India’s big focus is on mobile games. The best mobile game players in the world will definitely come from India.”
Earlier, the South Korean gaming giant had invested $22.4 million approx (INR 164 crore) in Nodwin Gaming to develop esports in South Asia, Middle East, and Africa.