UAE-based Redwood has acquired a majority stake in the game streaming platform Loco as the Indian firm looks to expand focus to international markets, TechCrunch has learned and confirmed.
Redwood, a newly-formed investment firm, has signed a $65 million deal with Loco, an investment that also gives full exit to all existing Loco backers.
This valuation drop from Loco’s nearly $150 million peak in 2022 reflects broader struggles among Indian esports streaming firms to generate revenue, a challenge partly attributed to the limited number of popular games in the market. Continue here.
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