Bobble AI has entered insolvency proceedings after failing to repay part of its debt, adding another difficult chapter for the Gurugram-based AI startup. The National Company Law Tribunal in New Delhi has admitted an insolvency plea against Talent Unlimited Online Services, the legal entity behind Bobble AI, and initiated the Corporate Insolvency Resolution Process.
The case was brought by Axis Trustee Services, which was acting on behalf of a group of debenture investors. Bobble AI had raised ₹25 crore through secured debentures in March 2023, but repayments started getting delayed from August 2025. Including interest, the outstanding default eventually reached around ₹5.77 crore.
Bobble AI argued that discussions with lenders were still underway and that the debt should not yet be treated as a default. The tribunal, however, did not agree. It pointed to the company’s own communication acknowledging the outstanding amount and moved ahead with the insolvency process.
An interim resolution professional has now been appointed, while a moratorium has also been put in place. That temporarily prevents recovery proceedings, asset sales and other legal action against the company while the resolution process plays out.
Founded by Ankit Prasad, Bobble AI is best known for its Indic keyboard and AI-powered communication tools, including personalised GIFs and stickers. The company has raised around $35 million over the years, including $26 million from South Korean gaming major Krafton in 2022, which holds close to a 25% stake. Bobble had also gone through a restructuring last year that included layoffs. The insolvency proceedings now put the focus on whether the company can find a way to restructure its liabilities and move forward.
Filed by
Startup Unplugged
