Bobble AI, the AI keyboard startup backed by Xiaomi, is raising Rs.12.9 crore (around USD 1.5 million) from its current investor Krafton as part of its Series D funding round.
Regulatory filings obtained from the Registrar of Companies (RoC) show that the board has sanctioned the issue of 600 Series D2 compulsory convertible preference shares at Rs.2,14,940 each to enable the investment.
Key Highlights:
- Krafton invests Rs.12.9 Cr in Bobble AI’s ongoing Series D round, doubling its stake to 24.84 percent
- Despite fresh funding, Bobble AI’s valuation dips 30 percent to Rs.834 Crore
The Gurugram-headquartered firm intends to put the money into general corporate purposes. Krafton's holding in an investment firm will now increase to 24.84 percent, a rise from the 12.34 percent it picked up when it invested Rs.206 crore (USD 26 million) in 2022. The present round has scope for further capital infusion as the fund is still open.
Even after the fundraise, the valuation of Bobble AI has fallen to Rs.834 crore (USD 98 million), a decline of 30 percent from the earlier Rs.1,172 crore (USD 138 million) valuation in the Series C round.
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Founded in 2012, Bobble AI offers an AI-powered Indic keyboard supporting over 120 regional languages. Its product features include facial recognition to create personalized stickers and GIFs and integrates seamlessly with platforms like WhatsApp and Facebook. The company generates revenue through ads, data insights, subscriptions, and branded merchandise.
Our attention continues to focus on creating inclusive AI-driven experiences that resonate with region language users and promote engagement across platforms," a company spokesperson commented.
For FY24, Bobble AI logged a 25 percent increase in revenue to Rs.37.67 crore, while its losses grew 40 percent to Rs.60.88 crore. The company has not yet reported its FY25 performance.
