Booble AI Attracts $1.5 Million in Series D Funding

Booble AI, funded by Xiaomi, is in the process of raising $1.5 million (Rs 12.9 crore) from its existing investor, gaming powerhouse Krafton, as part of its Series D funding round. This funding round appears to be ongoing, and the company may secure additional capital in the future.

Details of the Funding Round

The board at Booble AI has approved the issuance of 600 Series D2 compulsory convertible preference shares at a price of Rs 2,14,940 each to accumulate the stated amount, according to a regulatory filing retrieved from the Registrar of Companies (RoC).

Utilization of Funds

The funds will be allocated for general corporate purposes. Startup Superb has estimated the valuation of Booble AI at Rs 834 crore ($98 million), reflecting a decrease of nearly 30% from its Series C valuation of Rs 1,172 crore ($138 million).

About Booble AI

Founded in 2012, Booble AI offers an AI-driven Indic keyboard that supports over 120 languages and features facial recognition for customised GIFs and stickers. This keyboard is compatible with applications like WhatsApp and Facebook, capturing user intent in real-time. The company generates revenue through targeted advertisements, consumer data insights, subscription offerings, and branded merchandise.

Previous Funding and Stake Holdings

According to various sources on startup data intelligence, the Gurugram-based company has raised around $35 million, which includes Rs 206 crore ($26 million) in a combination of primary and secondary capital from Krafton Inc in September 2022. During this round, it acquired a 12.34% stake from Affle. After this latest funding, Krafton will hold a 24.84% stake in the company.

Financial Performance

For the fiscal year ending March 2024, Booble AI reported a 25% increase in revenue, reaching Rs 37.67 crore. However, losses also grew by 40% to Rs 60.88 crore during the same period. The firm has not yet disclosed its financial figures for FY25.

Krafton’s Investments

Krafton, known for its BGMI game, has recently invested in various platforms, including the social networking site Shuru and JetSynthesys, which is backed by Sachin Tendulkar. Other significant investments by Krafton encompass Kuku FM, Cashfree, One Impression, Pratilipi, and Nautilus, among numerous others.