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Exclusive: Bobble AI to raise fresh funds at 30% valuation dip

EntrackrEntrackr · 5d ago
Exclusive: Bobble AI to raise fresh funds at 30% valuation dip
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Exclusive: Bobble AI to raise fresh funds at 30% valuation dip Xiaomi-backed Bobble AI is raising $1.5 million or Rs 12.9 crore from its existing backer gaming giant Krafton in its Series D round. The new round seems to be an ongoing one and the firm may mop up more capital. The board at Bobble AI passed a resolution to approve the issue of 600 Series D2 compulsory convertible preference shares at an issue price of Rs 2,14,940 each to raise the aforementioned amount, its regulatory filing accessed from Registrar of Companies (RoC) shows. The proceeds will be used for general corporate purposes. Entrackr estimates the company’s valuation at Rs 834 crore ($98 million), down nearly 30% from its Rs 1,172 crore ($138 million) Series C valuation. Founded in 2012, Bobble.ai provides an AI-powered Indic keyboard supporting over 120 languages, with facial recognition for personalized GIFs and stickers. Integrated with apps like WhatsApp and Facebook, it captures real-time user intent. The company earns through targeted ads, consumer data insights, subscription features, and branded merchandise. According to startup data intelligence platform TheKredible, the Gurugram-based company has raised around $35 million including Rs 206 crore ($26 million) in a mix of primary and secondary capital from Krafton Inc in September 2022. During the round, it acquired a 12.34% stake from Affle. Following the latest infusion, Krafton will be commanding a 24.84% stake in the 12-year-old company. For the fiscal year ended March 2024, Bobble AI reported a 25% growth in revenue to Rs 37.67 crore. However, its losses also widened by 40% to Rs 60.88 crore in the same period. The firm is yet to report its FY25 numbers. BGMI-maker Krafton recently invested in the social networking platform Shuru and the Sachin Tendulkar-backed JetSynthesys. Its other notable investments include Kuku FM, Cashfree, One Impression, Pratilipi, and Nautilus, among several others.

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