Media platform Bobble.ai’s revenue grew 1.6X in FY23 as compared to the previous year’s Rs 19.72 crore. Its revenue in operations grew 79% to Rs 30.12 crore during the fiscal year ending March 2023. During this time, losses spiked 2.9X during this time, according to data intelligence platform TheKredible.
Founded in 2015 by Ankit P and Rahul Prasad, Bobble.ai is a conversation media platform. Its flagship product Bobble Indic Keyboard allows real-time content creation and personalization through its leading-edge AI technology. It supports over 120 languages and dialects such as Bangla, Marathi, Malayalam, Hindi, Tamil, and Punjabi among others. It also has a facial recognition feature which is used to convert selfies into GIFs and stickers.
The Gurgaon-based company’s expenses amounted to Rs 74.1 crore in FY23, a 2.1X growth as compared to the previous fiscal year. Over Rs 20 crore was spent on employee benefits, close to Rs 11 crore was spent on advertisement and promotions, and over Rs 7 crore was spent on legal costs. In FY22, the company spent over Rs 15 crore on employee benefits comprising over 40% of the total expenses.
Along with a surge in expenses, Bobble.ai’s losses spiked 2.9X to Rs 43.4 crore as compared to the previous fiscal year’s Rs 15.2 crore. Its EBITDA margin and ROCE stood at -123.04% and -477.85% respectively.
Till date, the media platform has raised a total of Rs 272.1 crore over 6 funding rounds. Its latest round was held on September 2022. The round raked in Rs 206 crore and saw Krafton as its lead investor.
Post the funding round, founders Ankit Prasad and Rahul Prasad owns over 20% and 4% of the company shares. Investor Krafton owns close to 20% of the company.