Glance InMobi Pte. is looking to raise the funding within a few weeks but the deal is not yet finalised
In 2020, Glance had raised $145 Mn in funding from Google and existing investor Mithril Capital to enter the unicorn club
Glance is also backed by Mithril Capital and Reliance’s Jio, among others
Adtech unicorn InMobi-owned mobile content provider Glance
is reportedly in advanced talks to raise capital in a $250 Mn funding round led by its existing backer Google.
As per a Bloomberg report, Glance InMobi Pte. is looking to raise the funding within a few weeks. However, the report also said that the fundraise is yet to be finalised and discussions might still break down.
Responding to Inc42’s request for a comment on the development, Glance said it doesn’t comment on market rumours and speculations.
Founded in 2019 by Naveen Tewari, Abhay Singhal, Mohit Saxena, and Piyush Shah, Glance is owned by InMobi, which was founded in 2007. Glance delivers screensavers for mobile devices, which helps users view certain content news without unlocking displays or opening any apps.
The platform delivers AI-driven personalised content in languages including English, Hindi, Tamil, Telugu and Bahasa on the lock screen of Android smartphones. This content includes trending news.
Its offerings include Glance Lock Screen, Glance Home Screen, and Glance Folders. It claims to have over 300 Mn users in countries, including India, the US, Japan and Indonesia.
In 2019, Glance raised $45 Mn in a funding round from Mithril Capital. The next year, it raised $145 Mn in investment from Google and existing investor Mithril Capital to enter the unicorn club.
Later on, in February 2022, Glance received $200 Mn in funding from Reliance’s Jio in its Series D round.
The startup acquired gaming startup Gambit Sports in 2022 to build NFT-based live gaming experiences for Gen-Z, across various markets.
Last year, Glance launched Nostra, a mobile gaming platform for India and Southeast Asia. The startup’s partners include top smartphone companies such as Oppo, Vivo, Xiaomi, and realme, among others.
