May 23, 2022

Indian game streaming startup Loco said Thursday it has raised $42 million with plans to build “Twitch for India,” according to its talks with investors.

Hashed, Makers Fund, Catamaran Ventures, Crafton and Hiro Capital have invested in the startup’s Series A funding, giving it a preliminary valuation of around $145 million, according to two people familiar with the matter. Bale of vanity Previous message about the dealI

The startup, founded by Anirudh Pandita and Ashwin Suresh, who previously co-founded content platform Pocket Access, has raised about $51 million so far.

As the startup told its investors, Loco is trying to build Twitch for India. He has partnered with various game publishers including PUBG Corporation, Activision-Blizzard, Riot Games for licenses. In the app, users watch and interact with streamers and support them with virtual goods (read: microtransactions).

It has amassed 5.3 million monthly active users, of which 450,000 use the service every day, according to people familiar with the matter. Sources say that around 45,000 gamers stream on Loco.

“YouTube is a prime indicator of this demand for gaming content, but the product is not built for the game streaming market,” the startup said in a report to investors. The Loco slide states that as of October 2021, users were spending 27 minutes a day on the platform.

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