Loco Sells Majority Share in International Tender to UAE’s Redwood

The transaction involves a mix of primary and secondary investments

This investment will enable Loco to enter multiple new markets over the next 12 months

The company will announce new partnerships with major gaming companies, esports athletes and streamers as part of its international launch

Game streaming platform Locomotive It sold its majority stake to UAE-based Redwood, a newly listed investment company, for $65 million to expand into overseas markets.

The deal also provides an exit for the startup’s existing investors, with the new investor providing significant capital to support Loco’s global expansion.

The transaction consists of a mix of primary and secondary infusion that will enable Loco to enter newer markets over the next year or so, according to the startup.

“This investment is a recognition of the tremendous work our team has done over the last few years. Gaming is an integral part of the cultural spirit globally, and we look forward to creating a platform that is at the heart of this global movement. Live streaming provides authentic connection in a way that other mediums cannot capture, and we want to put fans at the center of the experience,” said Anirudh Pandita and Ashwin Suresh, founders of Loco.

Founded in 2017, Bengaluru-based Loco has become a major player in the gaming community, employing 249 people. The platform has fostered highly interactive communities across popular gaming categories such as BGMI, Free Fire, Call of Duty Mobile, Clash of Clans, Grand Theft Auto (GTA) and Valorant.

As part of the international launch, the company will announce new partnerships with major gaming companies, esports athletes and broadcasters to enhance its content offerings. Loco has previously collaborated with leading publishers such as Krafton, Activision, Ubisoft and Riot Games, as well as global brands such as NBA and FIFAe, and plans to expand these partnerships to new markets.

Last year, Loco laid off 40 employees Approximately 36% of the 110-member workforce as part of a strategic realignment to focus on transaction-based monetization and operate with a leaner cost structure.

The layoffs come after the platform raised $42 Mn (INR 330 crore) in a Series A funding round led by Hashed in 2022.

Loco’s investor base also includes gaming giant Krafton and gaming-focused VC Lumikai.

Last year, Saregama acquired 51.82% shares Loco’s sister property, Pocket Aces, is valued at $40 Million. The music giant was also planning to acquire a 92.61% stake in Pocket Aces in the future.