September 11, 2024: In a strategic move aimed at accelerating its artificial intelligence (AI) initiatives, Singapore-based mobile advertising company, InMobi, has secured $100 million in debt financing from Mars Growth Capital, a joint venture between MUFG and Liquidity Group.
The primary focus of this funding will be to enhance the mobile advertising company’s AI capabilities and pursue strategic acquisitions in the AI sector, marking a key milestone in the company’s growth trajectory.
The investment will be pivotal in advancing InMobi’s AI-driven solutions, enabling the firm to innovate in personalized consumer engagement and revolutionize advertising beyond conventional formats. This funding will also help accelerate internal AI development, empowering brands with cutting-edge, native ad experiences that seamlessly integrate into user interactions.
InMobi’s CEO, Naveen Tewari, commented on the development, stating, “AI is the cornerstone of InMobi’s consumer and enterprise businesses. We are leveraging it to transform lock screen experiences and enhance our advertising platforms. With this new financing from Mars Growth Capital, we are positioned to drive deeper engagement and superior outcomes for consumers, advertisers, and publishers alike.”
Founded in 2007 by Tewari along with Mohit Saxena, Amit Gupta, and Abhay Singhal, InMobi operates two primary ventures: InMobi Advertising and Glance. Both of these platforms utilize AI to deliver personalized, interactive digital experiences, making the company a leader in the space.
InMobi’s Glance Platform key to growth going forward
Ron Daniel, Co-founder and CEO of Liquidity Group, and CEO of Mars Growth, also highlighted the significance of this investment: “This financing is one of our largest deals, and it underscores our commitment to supporting the growth of AI-driven platforms in the Asian tech ecosystem. We believe InMobi is poised for exponential growth as it expands its AI capabilities.”
Mars Growth Capital, with its focus on AI investments across the APAC region and Europe, sees this partnership as a step toward further fostering innovation in the tech landscape.
InMobi’s Glance platform, an AI-powered content discovery tool, is another key area of focus. Glance offers users personalized entertainment and content, creating immersive experiences that enhance daily digital interactions.
In 2023, Glance reached 235 million active users, bolstered by special features during major sporting events like the Indian Premier League (IPL) and the ICC World Cup. With real-time updates, including live scores, the Glance lock screen attracted 3.5 million daily active users during these events.
