InMobi’s Glance secures USD 145 million from Google and Mithril Capital
Category: #business |   By Saipriya Iyer |   Date: 2020-12-24  | 
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InMobi’s Glance secures USD 145 million from Google and Mithril Capital
  • The newly secured funds have allowed Glance to reach a valuation of around USD 1 billion.
  • Glance also operates a popular video-sharing social media platform Roposo.

Glance, one of the leading mobile lock screen platforms, recently announced to have secured USD 145 million from American multinational technology giant Google LLC and its existing investor Mithril Capital.

According to reliable sources, the newly secured funds have allowed Glance to reach a valuation of around USD 1 billion, thus entering the Unicorn club.

For those uninitiated, Glance is a subsidiary of Indian global mobile advertising technology company InMobi Group. The company is known for offering AI-based personalized content in various languages on lock screens of Android smartphones.

Glance also operates a popular video-sharing social media platform Roposo. The company had reportedly acquired Roposo in 2019, which now has over 33 million monthly active users consuming content in around 10 languages.

Glance intends to use the fresh investment to boost its AI (artificial intelligence) capabilities, expand its technology team, and focus on introducing advanced services, further reinforcing its brand as well as its reach across the globe, sources confirmed.

Vice President of Google, Caesar Sengupta was reported saying that the recent investment underlines the company’s efforts of working with Indian startups towards developing an all-inclusive digital economy that could benefit all.

Meanwhile, Managing General Partner and co-founder of Mithril Capital, Ajay Royan, mentioned that Glance has emerged to become a renowned technology that provides greater access to content on smartphones.

Founder and COO of Glance as well as InMobi Group, Naveen Tewari, was quoted saying that the recent development has allowed the company to develop as a leader in making the digital economy accessible for billions of users across India as well as the world.

Source Credits –

https://www.entrepreneur.com/article/362172

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Saipriya Iyer    

Saipriya Iyer

A content developer by choice, Saipriya Iyer holds a rich experience portfolio of more than five years in the content creation domain. Equipped with substantial expertise across the business, technology, and finance domains, Saipriya currently pens down insightful art...

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