InMobi Gets Funds for AI Development and Acquisitions

In Singapore, mobile marketing and ad tech platform InMobi has announced the closing of a $100m debt financing agreement, with funds earmarked for tech development and possible acquisitions, both with a focus on AI.

InMobi has two core businesses, Glance and targeting division InMobi Advertising. Glance is an AI-powered content discovery platform, sending personalized content and entertainment directly to users' smartphones. A third unit, TruFactor, which aimed to help telecoms companies transform raw, network-level mobile data into usable intelligence, has apparently been shuttered, but InMobi did acquire Appsumer, an insights and analytics platform for mobile app advertisers, in 2021.

The latest funds come from MARS Growth Capital, a joint venture between MUFG and Liquidity Group, and will be used to accelerate the firm's deployment of AI, and to support potential AI-focused acquisitions. Naveen Tewari, founder and CEO of InMobi comments: 'AI is the bedrock of both InMobi's consumer and enterprise businesses, and we are using it to power the revolutionary lock screen experiences and InMobi Advertising's platforms. We are reimagining how ads can be made truly native by driving superior engagement and outcomes for consumers, advertisers and publishers. We're pleased to have the confidence and funding from MARS Growth Capital to further accelerate our growth trajectory'.

Web site: www.inmobi.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.