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KRAFTON acquires majority stake in Nautilus Mobile for Rs 118 Cr

EntrackrEntrackr · 7m 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.

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

EntrackrEntrackr · 6m 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.

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

EntrackrEntrackr · 3m 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.

E-sports platform JetSynthesys reports Rs 108 Cr EBITDA loss on Rs 208 Cr revenue in FY25

EntrackrEntrackr · 5d ago
E-sports platform JetSynthesys reports Rs 108 Cr EBITDA loss on Rs 208 Cr revenue in FY25
Medial

E-sports and gaming platform JetSynthesys turned profitable in FY25 following the sale of its current investment worth Rs 165 crore. However, the Pune-based firm continued to incur operational losses in the same period. JetSynthesys reported a 10% year-on-year growth in operating revenue to Rs 207.6 crore in FY25 from Rs 188.9 crore in FY24, according to its consolidated financial statement sourced from the Registrar of Companies. JetSynthesys derives its revenue from a diverse range of services spanning gaming, esports, digital content, interest-based communities, and OTT platforms for video and music. However, the company has not disclosed a segment-wise revenue breakdown. Notably, the company recorded Rs 175.2 crore in other income, which included a gain of Rs 164.8 crore from the sale of current investments. This sale is likely linked to JetSynthesys’ divestment of its stake in Nautilus Mobile to global gaming major KRAFTON. However, the company has not provided any specific details regarding the transaction. On the expense side, employee benefits were the largest cost center for the firm, forming 31% of its total cost, amounting to Rs 102.4 crore, which declined 13% in FY25. Content licensing was another major expense for the company, which stood at Rs 75 crore. Event Management expenses, along with subcontracting and consultancy costs, grew by 28% and 31%, respectively, to Rs 38.3 crore and Rs 22.8 crore, while the company controlled its burn by 33% in FY25. Overall expenses for JetSynthesys declined marginally to Rs 329.5 crore in FY25 from Rs 345.7 crore in FY24. The 10% rise in revenue, coupled with controlled expenses and a one-time gain, helped JetSynthesys to turn profitable in FY25, reporting a profit of Rs 14.4 crore compared to a loss of Rs 97.5 crore in FY24. However, the company continued to post an operational loss of Rs 107.8 crore in FY25. The EBITDA margin and ROCE improved to -51.94% and -37.8%, respectively. On a unit basis, the firm spent Rs 1.59 to earn a rupee of operating revenue. As of March 2025, the company’s current assets stood at Rs 361.3 crore, including cash and bank balances of Rs 11.5 crore. The Sachin Tendulkar-backed company has raised over $90 million to date across multiple funding rounds. Its investors include Adar Poonawalla’s Serum Institute of India Pvt. Ltd and Pratithi Investment Trust.

Nazara acquires IP rights of Ultimate Teen Patti from Games24x7

EntrackrEntrackr · 1y ago
Nazara acquires IP rights of Ultimate Teen Patti from Games24x7
Medial

Nazara Technologies’ mobile gaming arm Next Wave Multimedia has acquired the intellectual property rights of Ultimate Teen Patti from Games24X7 for Rs 10 crore. Ultimate Teen Patti lets users play teen patti, a form of poker, online and with other competitors without any real money and is designed as a free to play online game. It claims to have achieved a gross turnover of Rs 7 crore in the financial year 2022-23 (FY23). With the acquisition, Nextwave will expand its offerings in the casual freemium gaming space. Recently, Nazara announced the acquisition of an additional 48.42% stake in Paper Boat Apps (PBA) from its promoters Anupam and Anshu Dhanuka for a sum of Rs 300 crore. In May, Nazara acquired 100% stake in mobile gaming subsidiary Nextwave Multimedia by buying the remaining 28.12% from founders. Nazara’s portfolio companies include, Nodwin Gaming in the esports space, Sportskeeda and Pro Football Network in the sports media space.

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