Glance raises $200mn from Jio Platforms; partners with Reliance Retail
- IBEF
- February 15, 2022
In a series D fundraising round, Jio Platforms, a subsidiary of Reliance Industries (RIL), would invest US$ 200 million in Glance, InMobi's AI-driven lock-screen platform. Glance's valuation will jump to US$ 2 billion as a result of this round. Glance received US$ 145 million from Google and current investor Mithril Capital in December 2020, making it one of the fastest start-ups to reach unicorn status.
The startup has also formed a relationship with Reliance Retail to provide Glance's 'lock-screen platform' to JioPhone Next devices. Jio's proposed investment aims to hasten Glance's launch in a number of significant foreign countries outside of Asia, including the United States, Brazil, Mexico, and Russia. The company plans to use the capital raised to expand globally and develop the world's largest live content and commerce ecosystem on the lock screen. Glance has almost 190 million users in Asia, with 163 million of them in India. Glance users spend an average of 25 minutes each day on average.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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