Peter Thiel’s investment firm backs Indian unicorn InMobi’s AI content platform
- InMobi’s latest offering –
Glance– raised $45 million from Mithril Capital, which was found by Peter Thieland Ajay Royan.
- InMobi’s Glance claims to be India’s first ‘screen zero’ platform through which it shows content to users on the lock screen of their smartphones.
- It has 50 million daily active users currently.
Glance boasts of being India’s first ‘screen zero’ platform through which it shows content to users on the lock screen of their smartphones. The platform claims to have more than 50 million active users daily, who spend 22 minutes per day on it.
“Glance is changing the landscape of content consumption to address the demands of the ‘attention economy’ we currently live in,” said Naveen Tewari, Founder & CEO, InMobi Group.
Tewari further said that the investment from Mithril will help them expand to new geographies and bring in innovation in content-format, personalization and content discovery. Glance is currently available in English, Hindi, Tamil and Telugu in India, and Bahasa in Indonesia.
However, this first investment round of Glance is part of a bigger financing round.
InMobi, which was founded in 2007, is one of the leaders in the adtech space and was India’s first unicorn, which is valued at over $1 billion.
- Indigo’s net loss widens to ₹1,194 crore despite cost cuts, revenue dips 66%
- Shapoorji Pallonji Group proposes plan for separation from Tata Sons
- Syska Group onboards Rajkummar Rao as its brand ambassador
- Pepperfry's Diwali ad will remind you of all the times you fought with your loved ones for your favourite spot at home
- Best screwdrivers for your tool drawer