Redwood Acquires Majority Share in Indian Streaming Platform Loco with $65 Million Investment

Redwood, a newly established investment firm, has acquired a majority stake in Loco, a prominent Indian games streaming service, with a significant investment of $65 million. According to a report by TechCrunch, this deal is expected to bolster the company's global expansion plans. Loco's founders, Anirudh Pandita and Ashwin Suresh, expressed their appreciation for the investment, stating, "This recognition is a testament to the dedication and hard work of our team over the past few years." "As gaming becomes an essential part of the global cultural landscape, we aim to establish a platform that is at the forefront of this movement," they added. Founded in 2018 by Pandita and Suresh, Loco was initially positioned as India's equivalent of Twitch, a popular gaming streaming platform. In 2022, the company secured $42 million in a series A funding round, led by Hashed and supported by notable investors such as Krafton, Lumikai, Hiro Capital, Makers Fund, Korea Investment Partners, and Catamaran Ventures. Additionally, Loco has collaborated with major publishers like Krafton, Activision, and Riot to further expand its offerings.