The deal follows the sale of Loco’s sister property Pocket Aces, which sold a majority stake in a $40 million deal to Indian music label giant Saregama earlier this year.
Backed by investors including Catamaran Ventures, Krafton, and Hashed, Loco aims to build a Twitch-like platform and serve markets where either the Amazon-owned service hasn’t expanded to or has weak penetration. On its platform today in the Indian market, gamers stream titles such as “Grand Theft Auto V”; “Call of Duty: Infinite Warfare”; “Battlegrounds Mobile India”; “Free Fire”; and “Valorant.”