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Photo = Krafton |
[Alpha Biz= Kim Jisun] KRAFTON India, the Indian subsidiary of South Korean gaming giant KRAFTON, has made a strategic Series A investment in Shuru, a fast-growing hyperlocal community platform in India. Existing investors Omidyar Network India and Axilor Ventures also participated in the round.
According to Indian media reports on May 22 (local time), Shuru recently closed a new funding round of INR 290 million (approximately USD 5.1 million). Of this, KRAFTON invested INR 210 million (approximately USD 3.7 million), acquiring an estimated 16% stake in the company.
Shuru operates a hyperlocal community app that spans over 650,000 neighborhoods across India and boasts more than 2 million monthly active users (MAU). The platform offers services closely tied to daily life, such as local shop information, second-hand item trading, local news, and community announcements. It has seen rapid growth, with total app installs recently surpassing 10 million.
Through this investment, KRAFTON India aims to deepen its connection with grassroots user bases in India and lay the foundation for expanding its presence in gaming and digital content distribution across the country.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
