Homegrown game streaming platform Loco raises $9 million

Loco, an Indian game streaming platform, on Monday announced that it has secured $9 million for its first round of fundraising as an independent company.

The seed round was led by South Korean gaming firm, Krafton, as well as Lumikai, an Indian gaming and interactive media fund.

The round also saw participation by Hashed, Hiro Capital, North Base Media, Axilor Ventures, and 3one4 Capital, it said in a statement.

"The new investment will fuel the platform's innovation efforts across game streaming technology and gaming content, helping it cement its leadership position as the home of Indian gaming," the statement said.

With this raise, Loco will be spun off into an independent entity from its parent, Pocket Aces, a digital entertainment company.

Pocket Aces founders Anirudh Pandita and Ashwin Suresh will lead Loco going forward, while co-founder Aditi Shrivastava will continue to lead Pocket Aces, it was stated.