InMobi secures $100 Million funding for AI-driven expansion
Global tech firm InMobi obtains $100M funding to advance AI capabilities in mobile engagement and advertising platforms.
InMobi today secured $100 million in debt financing from MARS Growth Capital. This significant funding is set to propel InMobi's artificial intelligence (AI) development and potential AI-focused acquisitions.
Key Highlights
- InMobi obtained $100 million in debt financing from MARS Growth Capital
- Funding aimed at advancing AI capabilities and possible AI-focused acquisitions
- Agreement signed with MARS Growth Capital, a joint venture between MUFG and Liquidity Group
- InMobi plans to enhance AI-powered lock screen experiences and advertising platforms
- The company has been utilizing AI and machine learning for over a decade
The $100 million debt financing agreement, closed with MARS Growth Capital, marks a significant milestone for InMobi. This capital injection is earmarked for bolstering the company's AI development efforts and funding potential AI-focused acquisitions. The move underscores InMobi's commitment to remaining at the forefront of AI innovation in the consumer technology sector.
Naveen Tewari, CEO of InMobi, emphasized the importance of AI in the company's strategy: "AI is the bedrock of both InMobi's consumer and enterprise businesses, and we are using it to power the revolutionary lock screen experiences and InMobi Advertising's platforms. We are reimagining how ads can be made truly native by driving superior engagement and outcomes for consumers, advertisers and publishers."
InMobi has been a pioneer in harnessing the power of AI and machine learning for over a decade. The company plans to use this new funding to significantly enhance its AI capabilities through both organic growth and strategic acquisitions. The goal is to develop more immersive and personalized ways for brands to engage with consumers beyond standard ad units.
MARS Growth Capital's Investment Strategy
MARS Growth Capital, the investment arm behind this funding, specializes in backing future-ready AI platforms in the Asia-Pacific (APAC) and European regions. As a joint venture between MUFG and Liquidity Group, MARS Growth Capital leverages its team of entrepreneurs and data scientists to identify high-potential technology companies.
Ron Daniel, Co-Founder and CEO of Liquidity Group and CEO of MARS Growth, stated: "Liquidity, through its JV with MUFG, MARS Growth, is committed to growing the Asian tech ecosystem. As one of our largest transactions to date, this financing will help fuel InMobi's next phase of AI-led growth."
InMobi's Market Position
InMobi has established itself as a leader in revolutionizing mobile engagement. The company operates two core businesses:
- Glance: An AI-powered content discovery platform that delivers personalized content and entertainment directly to users' smartphones.
- InMobi Advertising: Offers responsible, data-driven media solutions for brands to connect with their audiences through targeted ads.
Headquartered in Singapore with a significant presence in San Francisco, InMobi has global operations aimed at redefining consumer and brand engagement in the digital space.
Industry Perspective
Navas Ebin, Head of APAC and Managing Director at Liquidity and MARS Growth Capital, commented on the investment: "AI is redefining the way businesses operate and create value, and InMobi is well-positioned to leverage its capabilities across multiple spaces in consumer and advertising technology."
Looking Ahead
This substantial funding is expected to accelerate InMobi's growth trajectory, particularly in AI-driven innovations. As the company continues to evolve its lock screen experiences and advertising platforms, the industry will be watching closely to see how these advancements shape the future of mobile engagement and advertising technology.
Key Facts
- Funding amount: $100 million
- Funding type: Debt financing
- Investor: MARS Growth Capital (joint venture between MUFG and Liquidity Group)
- Announcement date: September 11, 2024
- Primary focus: AI development and potential AI-focused acquisitions
- InMobi's core businesses: Glance (content discovery platform) and InMobi Advertising
- InMobi headquarters: Singapore
- Major presence: San Francisco
- InMobi's AI experience: Over a decade in AI and machine learning