InMobi Secures $100 Million in Debt Financing to Fuel AI Expansion
Softbank-backed InMobi has raised $100 million in debt financing from MARS Growth Capital, a joint venture between MUFG and Liquidity Group. The funds will be used to propel InMobi's AI technology development and potential acquisitions. InMobi aims to list in India and is committed to revolutionizing the advertising industry.
- Country:
- India
Softbank-backed consumer technology firm InMobi announced on Wednesday it has secured $100 million in debt financing from MARS Growth Capital, a joint venture between MUFG and Liquidity Group.
With aspirations to list in India, InMobi plans to use the funds to advance its artificial intelligence (AI) technology and explore potential AI-focused acquisitions. 'We are pleased to receive this support from MARS Growth Capital to accelerate our growth,' said Naveen Tewari, CEO of InMobi.
Emphatically, Tewari highlighted that AI serves as the foundation of both InMobi's consumer and enterprise businesses, driving innovative lock screen experiences and native advertising solutions. MARS Growth Capital's investment focuses on future-ready AI platforms in the Asia Pacific and Europe regions.
'This financing will support InMobi's next phase of AI-led growth and enhance the Asian tech ecosystem,' added Ron Daniel, Co-Founder and CEO of Liquidity Group and Mars Growth.
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