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Krafton leads Rs 29 Cr round in Shuru at Rs 135 Cr valuation

EntrackrEntrackr · 9m ago
Krafton leads Rs 29 Cr round in Shuru at Rs 135 Cr valuation
Medial

For the fiscal year ending in March 2024, Shuru reported Rs 26.84 lakh in revenue and Rs 3.31 crore in losses. It has yet to file its FY25 financials. Shuru, a location-based social networking platform, has raised Rs 29 crore in a fresh funding round, sources aware of the development told Entrackr. South Korean gaming major Krafton has acquired around 16% stake by investing Rs 21 crore in Shuru, according to sources cited above. Founded in 2021 by Mayank Bhangadia and Harsh Chhabra, Shuru has expanded its presence, reaching over 2 million active users across more than 600 cities and 8,000 sub-districts. The platform enables real-time engagement, civic participation, and support for local businesses, with the goal of connecting citizens to their neighborhoods. While Shuru had previously secured backing from investors such as Omidyar Network India, Titan Capital’s Kunal Bahl and Rohit Bansal, Eximius Ventures, and Shastra VC, the investment from Krafton is expected to support its next phase of growth and scaling. Shuru’s regulatory filing with MCA also shows that it is raising Rs 29 crore from Krafton, Omidyar Network, and Eximius Trust. As per Entrackr’s estimates, the firm will be valued at around Rs 135 crore (post money). For the fiscal year ending in March 2024, Shuru reported Rs 26.84 lakh in revenue and Rs 3.31 crore in losses. It has yet to file its FY25 financials. Krafton's interest in Shuru is part of its strategy to invest in Indian startups, reflected in its recent plans to invest over $200 million in the country's gaming and digital sectors. In August 2023, BGMI-maker Krafton committed to invest $150 million in India over the next two to three years. Some of its notable bets include Kuku FM, Cashfree, One Impression, Bobble AI, Pratilipi, and Nautilus, among others.

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

EntrackrEntrackr · 6m ago
Exclusive: Bobble AI to raise fresh funds at 30% valuation dip
Medial

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.

Krafton, Naver and Mirae Asset plan Rs 6,000 Cr India focused fund

EntrackrEntrackr · 2m ago
Krafton, Naver and Mirae Asset plan Rs 6,000 Cr India focused fund
Medial

Krafton, Naver and Mirae Asset plan Rs 6,000 Cr India focused fund South Korean gaming company Krafton, known for Battlegrounds Mobile India (BGMI), has announced a new India focused technology investment fund in partnership with Naver and Mirae Asset, with a target corpus of up to Rs 6,000 crore. The vehicle, named the Unicorn Growth Fund, will place India at the core of its Asia investment strategy and signals Krafton’s intent to deepen its presence beyond gaming into wider technology and innovation sectors. The fund is expected to begin operations in January 2026. The announcement builds on Krafton’s established footprint in India, where it has invested over $200 million across gaming and digital startups since 2021. Its portfolio in the country spans companies such as hyperlocal community platform Shuru, fintech firm Cashfree Payments and game studio Nautilus Mobile, where Krafton acquired a controlling stake. Battlegrounds Mobile India has further strengthened the company’s position in the market, recording hundreds of millions of downloads and playing a central role in the growth of India’s mobile gaming ecosystem. Krafton’s broader investment narrative in India dates back to August 2023, when it committed to deploy $150 million into Indian gaming and entertainment startups over a two to three year period. The focus at the time was on early stage studios, esports platforms, multimedia content ventures and allied segments. Prior to that, between March 2021 and mid 2023, Krafton had invested around $140 million across 11 Indian startups such as Nodwin Gaming, Loco, Kuku FM and Pratilipi. With the new fund, Krafton is widening its investment lens to technology companies with scalable innovation potential. The partnership brings together NAVER’s platform and content expertise and Mirae Asset’s capital management capabilities to form a structured investment platform aimed at backing India’s tech ecosystem and supporting Krafton’s long term objectives in the market.

Blackbuck records Rs 32 Cr profit on Rs 172 Cr revenue in Q3 FY26

EntrackrEntrackr · 20d ago
Blackbuck records Rs 32 Cr profit on Rs 172 Cr revenue in Q3 FY26
Medial

Blackbuck has released its financial report for the third quarter of the ongoing financial year ending December 2025. The Bengaluru-based company reported a 51% year-on-year growth in scale in Q3 FY26 and posted a profit of Rs 32 crore in the quarter. Blackbuck's revenue from operations grew to Rs 172 crore in Q3 FY26 from Rs 114 crore in Q3 FY25. For the nine-month period, the company’s revenue increased by 53% to Rs 466.5 crore as compared to Rs 305 crore a year earlier. Revenue from its truck operator services was the primary source of revenue, accounting for 98% of total operating revenue. The company also made Rs 16 crore from interest income which took its overall revenue to Rs 188 crore in Q3 FY26, compared to Rs 123 crore in Q3 FY25. Looking at the expenses, the employee benefit cost accounted for 29% of the overall expenditure which increased by 16% year-on-year to Rs 40.5 crore in Q3 FY26 from Rs 35 crore in Q3 FY25. Depreciation and other operating expenses drove total expenditure to Rs 142 crore in Q3 FY26, compared to Rs 93 crore in the same quarter last year. Blackbuck registered a profit of Rs 32 crore in Q3 FY26, as compared to a loss of Rs 48 crore in Q3 FY25. On a quarterly basis, the company’s profit increased 10% from Rs 29 crore in Q2 FY26. BlackBuck's chairman and CEO, Rajesh Kumar Naidu Yabaji, sold 20 lakh shares (9.37% of his holding) in a Rs 135 crore bulk deal in the third quarter. This transaction reduced his stake in the logistics marketplace from 11.81% to 10.7% of the 18.07 crore total equity base. Currently, Blackbuck’s share price is trading at Rs 618, giving the company a market capitalization of Rs 11,196 crore ($1.2 billion).

OYO’s Ritesh Agarwal invests in Culture Circle at over Rs 100 Cr valuation

EntrackrEntrackr · 7m ago
OYO’s Ritesh Agarwal invests in Culture Circle at over Rs 100 Cr valuation
Medial

OYO’s Ritesh Agarwal invests in Culture Circle at over Rs 100 Cr valuation Culture Circle, a fashion commerce platform focused on luxury and streetwear, has raised a strategic round from Ritesh Agarwal, founder and chief executive of OYO. The funding was done at a valuation of more than Rs 100 crore. The startup had earlier secured Rs 3 crore on Shark Tank India from Agarwal and Kunal Bahl, declining a larger Rs 8 crore offer. Culture Circle claims to have crossed Rs 400 crore in overall valuation following its recent growth. The platform reports 1 million monthly users and over 4,000 verified sellers. It has recorded 4 times growth in recent quarters. The company was started by Devansh Jain Nawal and Ackshay Jain. Nawal is an IIM Ahmedabad alumnus and former Goldman Sachs employee. Jain has earlier worked with Google and leads JIIF Gurugram. The founders said the capital will be used to grow SourceX, the firm’s AI-led authentication system, and to expand into new product categories and global markets. It also plans to open new offline stores in Gurugram and Mumbai. Culture Circle operates flagship stores in Delhi and Hyderabad and runs a resale marketplace for branded sneakers and luxury fashion. The company is planning its global launch later this year.

KRAFTON acquires majority stake in Nautilus Mobile for Rs 118 Cr

EntrackrEntrackr · 11m ago
KRAFTON acquires majority stake in Nautilus Mobile for Rs 118 Cr
Medial

KRAFTON, the company behind BATTLEGROUNDS MOBILE INDIA (BGMI), has acquired a controlling stake in Pune-based game studio Nautilus Mobile for Rs 118 crore ($13.7 million). This is KRAFTON’s first full-control deal in India. Nautilus Mobile is best known for its popular mobile cricket game, Real Cricket. JetSynthesys fully acquired the studio in 2020, and KRAFTON later invested Rs 40.5 crore in 2022. With this acquisition, KRAFTON aims to boost Indian game development and expand its presence in sports gaming. JetSynthesys will remain a minority investor and continue working with Nautilus, especially in Esports. KRAFTON India CEO Sean Hyunil Sohn said this deal will help India become a global gaming hub. Nautilus Mobile CEO Anuj Mankar said the partnership will help Real Cricket grow internationally. KRAFTON has invested over $200 million in Indian startups since 2021 and continues to support local game developers. With India’s growing love for cricket and gaming, this move strengthens KRAFTON’s position in the country’s gaming ecosystem.

Spacewood raises Rs 300 Cr at Rs 1,200 Cr valuation

EntrackrEntrackr · 3m ago
Spacewood raises Rs 300 Cr at Rs 1,200 Cr valuation
Medial

Spacewood raises Rs 300 Cr at Rs 1,200 Cr valuation Modular furniture maker Spacewood Furnishers has raised Rs 300 crore ($36 million) from A91 Partners at a valuation of Rs 1,200 crore ($135 million). The investment gives A91 Partners a minority stake and will support expansion, brand building, and operations. Spacewood plans to scale from 35 exclusive stores to 100 stores across India over the next few years. Founded by Kirit Joshi and Vivek Deshpande, Spacewood manufactures modular furniture for homes and offices. The company works through an omnichannel model with exclusive stores, a dealer network, and online platforms. The company runs a manufacturing facility of about 1 million sq. ft. with panel processing and sheet metal capabilities. Its dealer network covers over 500 partners across 150 towns and cities. In 2011, Nitin Sudame set up the office furniture division under Spacewood Office Solutions (SOS). SOS has supplied office furniture to over 1,000 corporates and developers. Spacewood targets group revenue of Rs 700 crore for FY26. It aims to grow 25–30% annually over the next five years with a focus on profitability. Its clients include Accenture, Capgemini, HDFC, Adani Group, and several educational institutions. Sumai Doors works with over 200 real estate developers, including Godrej Properties, DLF, Lodha, M3M, and Kolte Patil. Spacewood operates in the modular furniture market competing with brands such as Godrej Interio, IKEA, Homelane, Pepperfry, Wurfel, and Urban Ladder.

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