India’s Loco raises seed funding from PUBG brand owner, Krafton

Loco, India’s leading homegrown game streaming platform, has secured $9 million for its first round of fundraising as an independent company. The seed round is led by South Korean gaming firm, Krafton, as well as Lumikai, India’s first gaming and interactive media fund. South Korean gaming company Krafton is the ownder of the PUBG mobile game. In India, PUBG Mobile licence was held by China’s Tencent Holdings when it was banned last year.

The round also saw participation by Hashed, Hiro Capital, North Base Media, Axilor Ventures, and 3one4 Capital. The new investment aims to fuel the platform’s efforts across game streaming technology and gaming content, helping it strengthen its position.