Redwood has acquired Indian gaming startup Loco for $65 million lately and this proves the accelerating growth of India’s digital entertainment space. Redwood is now positioned at the forefront of a global gaming surge. It now spotlights India’s immense potential as a gaming powerhouse. Loco was earlier dubbed as India’s Twitch and the deal signals a new era and it aligns with the ambitious vision of founders to create a globally recognized platform.
Loco was launched by Anirudh Pandita and Ashwin Suresh in 2018 and since then it has tapped into India’s growing passion for gaming and e-sports. It has been offering a unique environment for game streaming and e-sports engagement. It has been providing a stage for gamers to connect with fans.
The decision of Redwood to take a majority stake is a strong endorsement of the hard work of Loco team and also the promising journey of the platform. Gaming is currently moving beyond niche interests and it is gradually becoming a mainstream entertainment among the youths. The growth of Loco reflects deep digital entertainment that is shaping today’s cultural landscape.
The deal is a continuation of Loco’s upward journey that was strengthened in 2022 by a $42 million Series A funding round led by Hashed. The other participation was from notable investors like Krafton, Lumikai, Hiro Capital and Catamaran Ventures.
The backing of Redwood backing will help Loco to scale internationally. It is providing the resources needed to expand user base beyond India. Companies like Loco is offering a unique value proposition and a platform grounded in the gaming-rich environment of India. It is to evolving into a global gaming hub.
