[Funding alert] Game streaming platform Loco raises $9M by Krafton, Lumikai
Summary
With this funding, Loco will be spun off into an independent entity from its parent company, Pocket Aces. Commenting on the investment, Sean Hyunil Sohn, Head of Corporate Development at Krafton, said, He added, “Krafton plans to keep investing heavily not just in gaming but also tech, media, and other related areas to support and participate in the growth of these sectors in India.” “Over 67 percent of India’s millennials are gamers. Loco is fast emerging as a market maker with an unparalleled reach into the community of Indian streamers. Their combined might and experience in media, content, and gaming makes them primed to own the space. We are very excited to work alongside them to define the future of Indian gaming,” said Salone Sehgal, General Partner of Lumikai.