Redwood has acquired a majority interest in the Indian streaming company Loco with a deal valued at $65 million

Redwood, a new player in the investment sector, has acquired a controlling interest in the Indian gaming streaming platform Loco, valued at $65 million.

According to TechCrunch, Loco aims to utilize this investment to advance their international growth strategies.

Loco's founders, Anirudh Pandita and Ashwin Suresh, expressed that, "The investment is a recognition of the immense work done by our team in the past few years."

They added that gaming has become a central part of the global cultural movement and are eager to develop a platform that fosters this trend.

The platform, often described as "Twitch for India," was established by Pandita and Suresh in 2018.

In a significant financial milestone in 2022, Loco secured $42 million through a series A funding round. Key investors included Hashed, accompanied by Krafton, Lumikai, and Hiro Capital, alongside backing from Makers Fund, Korea Investment Partners, and Catamaran Ventures.

Loco has also struck partnerships with major game publishers, including Krafton, Activision, and Riot Games.