- Funding to enhance immersive and personalised experiences it offers to brands and consumers, extending well beyond traditional advertising units.
- InMobi eyes an initial public offering in India in the latter half of next year, with aspirations of achieving a valuation of $10b.
InMobi, a prominent player in the mobile advertising network sector, has successfully secured $100 million in debt financing from MARS Growth Capital, collaboration between MUFG and Liquidity Group.
The substantial investment marks a pivotal moment for the company, propelling its ambitions in artificial intelligence (AI) development and strategic acquisitions.
According to the company, the funding is designed to enhance the immersive and personalised experiences it offers to brands and consumers, extending well beyond traditional advertising units.
The financing comes as InMobi seeks to raise new capital after a five-year hiatus; however, it has experienced a continuous influx of investment for its mobile-first content platform, Glance, from key players such as Jio and Google.
Innovative approach
Established in 2011, InMobi holds the distinction of being India’s first unicorn, a testament to its innovative approach and early market entry.
The company provides a diverse array of products, including mobile display ads, native ads, and app install campaigns; all powered by sophisticated machine learning and AI technologies to optimize ad performance.
With a global presence spanning over 165 countries, InMobi effectively connects businesses to their target audiences across various mobile platforms, thus driving user acquisition and engagement.
Headquartered in Singapore, InMobi also has a significant operational base in San Francisco and maintains a worldwide footprint.
Naveen Tewari, CEO of InMobi, articulated the company’s commitment to innovation, stating, “AI is the cornerstone of our technology. With MARS Growth Capital’s support, we can accelerate our efforts to revolutionise digital interactions and advertising.”
Looking ahead, media reports suggest that InMobi is preparing for an initial public offering (IPO) in India in the latter half of next year, with aspirations of achieving a valuation of $10 billion.
Furthermore, the company plans to relocate its domicile from Singapore back to India in the coming months, reinforcing its strong ties to its home market.