InMobi Secures $100M for AI Growth Ahead of IPO
InMobi's Strategic Funding for AI Initiatives
InMobi, a leading Indian adtech startup, has secured $100 million in debt financing from Mars Growth Capital, a collaboration between MUFG and Liquidity Group. This funding aims to deepen its artificial intelligence (AI) initiatives and support potential acquisitions prior to its planned initial public offering (IPO) next year.
The Impact of AI on InMobi's Operations
The company, backed by notable investors like SoftBank, serves high-profile clients such as Mastercard, Samsung, Vodafone, and Coca-Cola. For the past two years, InMobi has made concerted efforts to enhance AI capabilities, focusing on improving ad interactivity.
- CEO Naveen Tewari stated, 'AI is the bedrock of both our consumer and enterprise businesses.'
- Innovative lock screen experiences powered by Glance and InMobi Advertising are on the horizon.
Future Prospects and IPO Plans
The company is gearing up for a significant IPO in India in 2025, anticipating a valuation of approximately $10 billion. InMobi also plans to shift its domicile from Singapore back to India shortly.
By the end of March, annual revenues are expected to exceed $700 million. This debt financing stands as one of Mars Growth Capital's largest transactions, as they continue to invest in the burgeoning tech ecosystem across Asia.
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