InMobi, a global consumer technology company, has raised $100 million in debt financing from MARS Growth Capital, a joint venture between MUFG and Liquidity Group.
“AI is the foundation of InMobi’s consumer and enterprise businesses, and we are using it to power InMobi Advertising’s revolutionary lock screen experiences and platforms. We are reinventing how ads can become truly native, driving greater engagement and outcomes for consumers, advertisers and publishers,” said Naveen Tewari, CEO, InMobi.
“We are pleased to have the trust and funding from MARS Growth Capital to further accelerate our growth trajectory.”
Focused on AI development and acquisitions
InMobiIndia’s first unicorn, will use the capital raised to boost its artificial intelligence (AI) development and deployment efforts and fund potential AI-focused acquisitions.
The company has transformed the way people interact with mobile devices and has been working with AI and machine learning for more than a decade.
InMobi said it aims to create more personalized and immersive ways for brands to engage with consumers, going beyond traditional advertising methods.
InMobi Affiliates
Glance, OneLouder Apps, Gambit Sports and Appsumer are some of its subsidiaries.
Glance, an AI-powered content discovery platform, delivers personalized content and entertainment directly to users’ smartphones, creating more interactive and immersive journeys.
InMobi Advertising offers data-driven, responsible media solutions that enable brands to connect with their audiences through impactful, targeted ads.
What did investors say?
“Liquidity, through its joint venture with MUFG, MARS Growth, is committed to growing the Asian technology ecosystem,” said Ron Daniel, Co-Founder and CEO of Liquidity Group and Managing Director of MARS Growth Capital. “As one of our largest transactions to date, this financing will help fuel InMobi’s next phase of AI-driven growth.”
MARS Growth Capital invests in future-ready AI platforms across Asia Pacific and Europe. Backed by Liquidity Group’s experienced team of entrepreneurs and data scientists, MARS Growth Capital is a leading choice for high-performing global technology companies in a new era of financing.
“AI is redefining the way businesses operate and create value, and InMobi is well positioned to leverage its capabilities across multiple consumer and advertising technology spaces,” said Navas Ebin, Head of APAC, Managing Director at Liquidity and MARS Growth Capital.
“A company of InMobi’s scale requires an agile, technology-driven growth partner. We are thrilled to be working with InMobi to power their next wave of innovation in AI and consumer internet verticals.”
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