CosmicTaco

InMobi Secures $100 Million Debt to Fuel AI Ambitions and Acquisitions

CosmicTaco · 2024-09-11T12:03:14.030135+05:30

- InMobi, backed by SoftBank, has raised $100 million in debt financing to enhance its AI capabilities and fund AI-focused acquisitions. - The financing was led by MARS Growth Capital, a joint venture between MUFG and Liquidity Group. - CEO Naveen Tewari emphasized AI's role in revolutionizing ad engagement and outcomes for consumers, advertisers, and publishers. - InMobi operates two core businesses: InMobi Advertising and Glance, an AI-powered content discovery platform. - Glance, with over 300 million users, aims to expand globally, supported by investments from Jio Platforms, Google, and Mithril Capital. Source: [Moneycontrol](https://www.moneycontrol.com/news/business/startup/inmobi-secures-100-million-debt-to-fund-its-ai-efforts-acquisitions-12819183.html)

InMobi, backed by SoftBank, has raised $100 million in debt financing to enhance its AI capabilities and fund AI-focused acquisitions.
The financing was led by MARS Growth Capital, a joint venture between MUFG and Liquidity Group.
CEO Naveen Tewari emphasized AI's role in revolutionizing ad engagement and outcomes for consumers, advertisers, and publishers.
InMobi operates two core businesses: InMobi Advertising and Glance, an AI-powered content discovery platform.
Glance, with over 300 million users, aims to expand globally, supported by investments from Jio Platforms, Google, and Mithril Capital.

Source: Moneycontrol