InMobi secures $100 million for AI acquisitions ahead of IPO

Sep 11, 2024

InMobi secures $100M to boost AI efforts for upcoming IPO.

InMobi secures $100 million for AI acquisitions ahead of IPO

: InMobi has raised $100 million in debt financing from Mars Growth Capital to expand its AI initiatives and fund acquisitions ahead of a 2024 IPO. This contributes to a growing portfolio for Mars, which includes startups Zepto and Infra.Market. The firm works with numerous app developers and recently developed techniques for native ads integration. InMobi owns Glance and is targeting a $10 billion valuation for its IPO.

InMobi has secured $100 million in debt financing from Mars Growth Capital, a collaboration between MUFG and Liquidity Group. This funding aims to enhance the company's AI projects and support potential acquisitions in preparation for its IPO next year.

Mars Growth Capital, actively investing in Indian startups, has previously supported Zepto and Infra.Market. InMobi, backed by SoftBank and serving big names like Mastercard and Samsung, has recently developed methods for native ad integration, showing its dedication to AI advancements.

InMobi also owns Glance, an Android lockscreen platform that is seeking to raise over $200 million. The company aims for a $10 billion valuation in its Indian IPO and expects to surpass $700 million in annual revenue by March. Debt financing from Mars Growth represents one of the firm's largest transactions, reflecting their commitment to the Asian tech ecosystem.