Exclusive: Krafton-backed Bobble AI enters insolvency process after failing to repay debt

Bobble.AI, the homegrown AI-powered communication and data intelligence startup, has entered insolvency proceedings. The National Company Law Tribunal (NCLT), New Delhi, has admitted an insolvency plea against Talent Unlimited Online Services Private Limited, the legal entity behind Bobble AI, and started the Corporate Insolvency Resolution Process (CIRP) against it, as per the filing sourced from the RoC. The order was passed on June 12 on a petition filed by Axis Trustee Services Limited, which was acting as debenture trustee for a group of investors. As per the filings, the tribunal has appointed Manish Agarwal as the Interim Resolution Professional (IRP) and declared a moratorium on the company. This means no legal action, asset sale, or recovery can happen against Bobble AI for now. According to the order and regulatory filings, Bobble AI had raised Rs 25 crore in March 2023 by issuing secured debentures to investors. The company started missing repayments from August 2025. With interest included, the total default stood at around Rs 5.77 crore. The security created against these debentures was also registered with the RoC, as per the filings. Bobble AI had argued that since talks with lenders were still going on, the default should not count yet. The tribunal did not accept this and said the company's own emails clearly admitted the debt and default. In an email response to Entrackr, Manish Agarwal, Resolution Professional of Bobble AI, clarified that the commencement of the Corporate Insolvency Resolution Process does not amount to the liquidation or closure of Bobble AI. According to him, the company continues to operate as a going concern during the resolution process, and its business operations, customer services, and ongoing commercial engagements continue in the ordinary course. Bobble.ai offers an AI-powered Indic keyboard supporting over 120 languages, with facial recognition for personalized GIFs and stickers. Integrated with WhatsApp and Facebook (Meta), the company monetizes through ads, data insights, subscriptions, and branded merchandise. The Gurugram-based company has raised around $35 million, including $26 million in a mix of primary and secondary capital from Krafton Inc in September 2022. Krafton controls a nearly 25% stake in the 12-year-old company. Last year, the company also laid off around 50 employees amid restructuring. Entrackr exclusively reported the development. Update at 5:22 PM, August 19 : The story has been updated with an official response from Bobble AI.