Sort of. HP Lovecraft designed Cthulu based on a textbook cult behavior of "awakening the God from the Dark". A lot of these depictions were based on mystery schools and occult lodges, where (if they are legitimate), this awakening is a metaphor for an internal process.
I don't think the intention was for Cthulu to be the Kundalini, but the inspiration for him is slightly related.
Nonetheless, OP, no, they're not real.