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

EntrackrEntrackr · 7m 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.

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

EntrackrEntrackr · 7d 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.

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