InMobi secures $100M for AI acquisitions ahead of IPO

Adtech startup InMobi has raised $100 cardinal successful indebtedness financing arsenic nan profitable Indian patient looks to “significantly deepen” its artificial intelligence initiatives and money imaginable AI acquisitions up of a planned IPO adjacent year. 

Mars Growth Capital, a associated task betwixt MUFG and Liquidity Group, has financed nan funding, InMobi said Wednesday. The finance is nan latest successful a increasing Indian portfolio of Mars, which has besides backed quick commerce startup Zepto and marketplace Infra.Market successful caller months. 

SoftBank-backed InMobi, which counts Mastercard, Samsung, Vodafone, and Coca-Cola among its customers, has been actively exploring AI advancements complete nan past 2 years to heighten advertisement interactivity. The company, which useful pinch tens of thousands of app developers crossed complete 50 nations, precocious developed techniques for seamlessly integrating autochthonal advertisements into content, TechCrunch antecedently reported.

InMobi besides owns Glance, a unicorn startup that operates an Android fastener surface platform. The Android level is separately successful talks to raise much than $200 million, TechCrunch has reported. 

InMobi is eyeing a valuation of astir $10 cardinal successful an first nationalist offering planned for adjacent twelvemonth successful India. The institution expects to make yearly gross exceeding $700 cardinal by nan extremity of March, TechCrunch earlier reported.

The indebtedness financing from MARS Growth Capital represents 1 of nan largest transactions to day for nan finance firm. “Liquidity, done its JV pinch MUFG, Mars Growth, is committed to increasing nan Asian tech ecosystem,” said Ron Daniel, co-founder and CEO of Liquidity Group and CEO of Mars Growth, successful a statement.