About $42 Mn received by Loco from Crypto Major Hashed
- ByStartupStory | March 10, 2022
Loco, a Live game streaming startup raised about $42 Mn (INR 330 Cr) in a funding round led by South Korea’s early-stage venture fund, Hashed. Makers Fund, billionaire Narayana Murthy’s Catamaran Ventures, and Korea Investment Partners were also witnessed participating in the Series A funding round..
Krafton, Lumikai, and Hiro Capital also participated in this round, all these investors were from the startup’s seed round. According to a statement, Loco will continue investing in the development of the gaming ecosystem and nurturing its community, with this fresh funding. In June last year about $9 Mn was raised by Loco which helped it test new product features.
According to the startup, with scaling of daily active viewers by 15 times, scaling of monthly active viewers by 8 times and monthly active streamers by 5 times, it has grown over the last year. Further, Since January last year, its live watch hours has grown by about 80 times.
At the University of Illinois at Urbana-Champaign Pandita and Ashwin Suresh, Loco’s other co founders, met as engineering undergraduates and along with a third founder Aditi Shrivastava, went on to work on Wall Street before starting Pocket Aces Private, a digital studio creating streaming content in order to provide an alternative to traditional television entertainment.
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