InMobi Secures $100 Million in Debt Financing for AI Acquisitions Ahead of IPO

InMobi secures $100 million for AI acquisitions ahead of IPO | TechCrunch

Adtech startup InMobi has raised $100 million in debt financing as the profitable Indian firm looks to "significantly deepen" its artificial intelligence initiatives and fund potential AI acquisitions ahead of a planned IPO next year. Mars Growth Capital, a joint venture between MUFG and Liquidity Group, has financed the funding, InMobi said Wednesday. The investment is the latest in a growing Indian portfolio of Mars, which has also backed quick commerce startup Zepto and marketplace Infra.Market in recent months. SoftBank-backed InMobi, which counts Mastercard, Samsung, Vodafone, and Coca-Cola among its customers, has been actively exploring AI advancements over the past two years to enhance ad interactivity. The company, which works with tens of thousands of app developers across over 50 nations, recently developed techniques for seamlessly integrating native advertisements into content, TechCrunch previously reported. "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," said Naveen Tewari, CEO of InMobi, in a statement. InMobi also owns Glance, a unicorn startup that operates an Android lockscreen platform. The Android platform is separately in talks to raise more than $200 million, TechCrunch previously reported. InMobi is eying a valuation of approximately $10 billion in an initial public offering planned for next year in India. The firm plans to shift its domicile from Singapore to India in the coming months. The company expects to generate annual revenue exceeding $700 million by the end of March, TechCrunch earlier reported. The debt financing from MARS Growth Capital represents one of the largest transactions to date for the investment firm. "Liquidity, through its JV with MUFG, Mars Growth, is committed to growing the Asian tech ecosystem," said Ron Daniel, co-founder and CEO of Liquidity Group and CEO of Mars Growth, in a statement.

InMobi secures $100 million from MARS Growth Capital ahead of IPO

Ad-tech startup InMobi has secured $100 million in debt financing 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, said the company in its statement. InMobi is eying a valuation of approximately $10 billion in an initial public offering planned for next year in India. The firm plans to shift its domicile from Singapore to India in the coming months. InMobi's core ad-tech business enables third-party consumer businesses to advertise on other platforms, for which it takes a fee. 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, it added. "We are reimagining how ads can be made truly native by driving superior engagement and outcomes for consumers, advertisers and publishers," says Naveen Tewari, CEO of InMobi. "We're pleased to have the confidence and funding from MARS Growth Capital to further accelerate our growth trajectory." In FY23, InMobi clocked revenue of $281 million and profit of $41 million, according to news reports. SHARE Copy linkEmailFacebookTwitterTelegramLinkedInWhatsAppRedditPublished on September 11, 2024

Ahead Of IPO, InMobi Nets $100 Mn Debt To Boost Its AI Stack

Founded in 2007, InMobi provides marketing and monetisation technology to app developers worldwide Adtech startup InMobi has secured $100 Mn in debt funding from Mars Growth Capital, a joint venture between MUFG and Liquidity Group, as India's first unicorn prepares for its initial public offering (IPO). The SoftBank-backed startup plans to deploy the fresh capital towards strengthening its artificial intelligence (AI) capabilities and potential AI-focused acquisitions. Founded in 2007 by Naveen Tewari, Piyush Shah, Mohit Saxena and Abhay Singhal, InMobi provides marketing and monetisation technology to app developers worldwide. In 2019, it diversified from its core adtech business with Glance, an AI-based unicorn startup that operates an Android lockscreen platform. The funding comes at a time when InMobi is gearing up for its public listing. The 17-year old company plans to file its draft red herring prospectus (DRHP) with market regulator SEBI this year or next year for a public listing in 2025-26.

InMobi raises $100 mn debt financing from MARS Growth Capital: CEO Tewari

Softbank-backed consumer technology company InMobi on Wednesday said it has raised $100 million debt financing from MARS Growth Capital, a joint venture between MUFG and Liquidity Group. InMobi has plans to list in India and has started the necessary process. Click here to connect with us on WhatsApp The company plans to use the funds for the development and deployment of InMobi's artificial intelligence (AI) technology and for potential AI-focused acquisitions. "We are pleased to have the confidence and funding from MARS Growth Capital to further accelerate our growth trajectory," Naveen Tewari, CEO of InMobi said. He said AI is the bedrock of both InMobi's consumer and enterprise businesses. "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," Tewari said. More From This Section SC to hear plea related to insolvency proceedings against Byju's on Sept 17 Delhi HC blocks Italian firm Amuleti's use of Amul trademark in key ruling L&T joins semiconductor race, to create chip firm and invest over $300 mn FlexiLoans secures Rs 290 crore from global, domestic investors Premium Blackstone prepares to take two firms public amid buoyant markets MARS Growth Capital invests in future-ready AI platforms in Asia Pacific and Europe. "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," says Ron Daniel, Co-Founder and CEO, Liquidity Group and CEO, Mars Growth said. Also Read SoftBank-backed OfBusiness plans up to $1 bn India IPO for H2 of 2025 E-scooter maker Ola Electric valuations hit $7 bn; up 75% over IPO price Japan's SoftBank picking stock winners in India's red-hot IPO market SoftBank VF1 reports $544 mn loss on Paytm exit, gains $65 mn on Zomato SoftBank to buyback $3.4 bn worth shares amid pressure from investors

Softbank-backed InMobi raises $100 mn via debt financing agreement

The IPO-bound firm said that this financing round will be used to significantly deepen the company's AI capabilities through both organic and inorganic means to deliver more immersive, personalised ways for brands to better engage with consumers beyond the standard ad unit. "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," says Naveen Tewari, CEO of InMobi.