- The acquisition of a majority stake by UAE-based investment firm Redwood also provides an exit opportunity for existing investors
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Redwood, an investment firm based in the UAE, has purchased a majority stake in the Indian game streaming service Loco for $65 million.
According to a report from TechCrunch, the streaming startup aims to expand into international markets post-acquisition.
Loco plans to grow in regions where competitors like the Amazon-owned Twitch have limited presence or market share. The company is focused on establishing a Twitch-like platform for markets with minimal Amazon Twitch influence.
Establishing Genuine Connections
Co-founders Anirudh Pandita and Ashwin Suresh of Loco shared in a joint statement, “This investment acknowledges the significant progress made by our team in recent years. Gaming holds a prominent position in the global cultural landscape, and we are excited to create a platform that is central to this global trend. Live streaming fosters authentic connections unlike any other medium, and we aim to place the audience at the core of this experience.”
With backing from investors such as Catamaran Ventures, Krafton, and Hashed, Loco’s Indian platform currently streams popular games like GTA V, Call of Duty, Battlegrounds Mobile India, Free Fire, and Valorant.
