Redwood takes majority stake in India streaming startup Loco for $65m
Firm will make the most of funds to reinforce its “world enlargement efforts”
Newly shaped funding agency Redwood has taken a majority stake value $65 million in India video video games streaming service Loco.
As reported by TechCrunch, the agency hopes the deal will strengthen its “world enlargement efforts.”
“The funding is a recognition of the immense work achieved by our workforce up to now few years,” acknowledged Loco founders Anirudh Pandita and Ashwin Suresh.
“Gaming is an integral a part of the cultural zeitgeist globally, and we sit up for constructing a platform that’s on the coronary heart of this world motion.”
Loco was once 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 spherical led by Hashed, with participation from Krafton, Lumi