InMobi has received $100 million from MARS Growth Capital, for AI-expansion.
Takeaway Points
- InMobi receives $100million from MARS Growth Capital for AI expansion.
- The funds will be used to propel InMobi’s artificial intelligence (AI) development and deployment efforts forward and fund potential AI-focused acquisitions.
InMobi Receives $100million
InMobi, a global consumer technology company transforming how consumers discover and consume content, shop, and engage with brands, on Wednesday announced the closing of a $100 million debt financing agreement from MARS Growth Capital, a joint venture between MUFG and Liquidity Group. The funds will be used to propel InMobi’s artificial intelligence (AI) development and deployment efforts forward and fund potential AI-focused acquisitions.
This financing round will be used to significantly deepen the company’s AI capabilities through both organic and inorganic means to deliver more immersive, personalized ways for brands to better engage with consumers beyond the standard ad unit, Inmobi said.
Naveen Tewari, CEO of InMobi, said in a comment, “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. We’re pleased to have the confidence and funding from MARS Growth Capital to further accelerate our growth trajectory.”
Ron Daniel, Co-Founder and CEO, Liquidity Group and CEO, MARS Growth Capital, said, “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.
About InMobi
InMobi is a consumer technology company dedicated to revolutionizing how the world engages with mobile devices. Through its two core businesses, Glance and InMobi Advertising, AI is harnessed to elevate digital experiences. 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 responsible, data-driven media solutions that empower brands to connect with their audiences through impactful, targeted ads. With principal places of business in India, Singapore and U.S. and operations around the globe, InMobi is redefining how consumers and brands engage in the digital space.
About MARS Growth Capital
MARS Growth Capital, a joint venture between MUFG and Liquidity Group, provides advanced financing solutions to fintech, SaaS, and e-commerce businesses in Southeast Asia, the Pacific, and Europe. Utilizing Liquidity Group’s AI and machine learning, MARS offers credit and equity financing ranging from $3 million to $100 million for mid-market, late-stage, and pre-IPO technology companies.
About Liquidity Group
Liquidity Group is the leading AI-driven financial asset management firm in the world. With multi-billions across funds focused on North America, Asia-Pacific, Europe, and the Middle East, Liquidity Group operates globally with offices in, Abu Dhabi, New York, London, Tel Aviv and Singapore. The firm’s patented decision science technology enables it to deploy more capital through more deals much faster than other firms in the capital markets industry, establishing it as the fastest-growing provider of credit and equity financing to mid-market and late-stage companies. Liquidity Group is backed by leading global financial institutions including Japan’s largest bank, MUFG, Spark Capital, Apollo Asset Management and others.
