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Newly fashioned funding agency Redwood has taken a majority stake value $65 million in India video games streaming service Loco.
As reported by TechCrunch, the corporate hopes the deal will help its “international growth efforts.”
“The funding is a recognition of the immense work finished by our staff up to now few years,” mentioned Loco founders Anirudh Pandita and Ashwin Suresh.
“Gaming is an integral a part of the cultural zeitgeist globally, and we look ahead to constructing a platform that’s on the coronary heart of this international motion.”
Loco was based in 2018 by Pandit and Suresh as a gaming streaming platform pitched as “Twitch for India.”
In 2022, the firm raised $42 million in a series A funding round led by Hashed, with participation from Krafton, Lumikai, and Hiro Capital, along with Makers Fund, Korea Funding Companions, and Catamaran Ventures.
The platform has additionally entered offers with publishers akin to Krafton, Activision, and Riot.
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