Revolutionizing the Adtech industry, Indian startup InMobi has secured a whopping $100 million in debt financing to drive its artificial intelligence (AI) initiatives to new heights. This move is aimed at preparing the company for potential AI acquisitions ahead of its planned IPO in the upcoming year.
Here are some key points about InMobi’s latest milestone:
- The $100 million funding was provided by Mars Growth Capital, a joint venture between MUFG and Liquidity Group, showcasing their confidence in InMobi’s innovative approach.
- InMobi, with a client roster including industry giants like Mastercard, Samsung, Vodafone, and Coca-Cola, has been dedicated to revolutionizing ad interactivity through AI. By collaborating with thousands of app developers worldwide, the company has developed cutting-edge techniques to seamlessly integrate native ads into content.
- CEO Naveen Tewari emphasized, “AI is the cornerstone of InMobi’s consumer and enterprise operations.” The focus is on creating engaging, native ad experiences that deliver superior outcomes for consumers, advertisers, and publishers.
- In addition to its flagship business, InMobi is the proud owner of Glance, a unicorn startup known for its Android lockscreen platform. Glance is set to raise over $200 million, highlighting the company’s success and potential for further growth.
Looking towards the future, InMobi is gearing up for an IPO in India next year with an anticipated valuation of $10 billion. The company aims to surpass $700 million in annual revenue by the end of this fiscal year. As part of its expansion strategy, InMobi plans to shift its headquarters from Singapore to India.
The significant debt financing from Mars Growth Capital marks a new chapter for InMobi and represents a major step in expanding the Asian tech ecosystem. Ron Daniel, CEO of Liquidity Group and Mars Growth, expressed their commitment to fostering growth in the region through strategic investments.
In conclusion, InMobi’s latest funding milestone underscores its leadership in the adtech industry and its relentless pursuit of AI-driven innovation. With a strong focus on enhancing user experiences and driving business results, InMobi is poised to redefine the future of digital advertising.
Leave feedback about this