InMobi secures $100 million from MARS Growth Capital

InMobi announced on Wednesday that it has secured $100 million debt financing from MARS Growth Capital, a joint venture created by MUFG and Liquidity Group. SoftBank-backed InMobi plans to use the funding to expand its artificial intelligence capabilities and pursue AI-driven acquisitions. 

“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. “We’re pleased to have the confidence and funding from MARS Growth Capital to further accelerate our growth trajectory.” 

Founded in 2007, InMobi became India’s first startup to attain unicorn status. The company’s advanced advertising platform seamlessly combines demand-side and supply-side technologies, supporting a vast network of app partnerships spanning over 50 countries. The company also owns Glance, an AI-driven content discovery platform that provides users with personalized content and entertainment directly on their smartphones. The company is reportedly targeting a valuation of around $10 billion as it prepares for its anticipated initial public offering next year.

“Liquidity, through its JV with MUFG, MARS Growth, is committed to growing the Asian tech ecosystem,” said Ron Daniel, Co-Founder and CEO, Liquidity Group and CEO, MARS Growth Capital. “As one of our largest transactions to date, this financing will help fuel InMobi’s next phase of AI-led growth. 

“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,” said Navas Ebin, Head of APAC, Managing Director at Liquidity and MARS Growth Capital. “A business of InMobi’s scale requires an agile tech-driven growth partner. We’re thrilled to work with InMobi to power their next wave of innovation in AI and consumer internet verticals.”