On Wednesday, Softbank-backed consumer technology firm InMobi revealed that it has obtained $100 million in debt financing from MARS Growth Capital, a joint venture between MUFG and Liquidity Group.
InMobi is preparing for a potential listing in India and has initiated the necessary procedures.
The funds will be used to advance and deploy InMobi’s artificial intelligence (AI) technology, as well as to pursue potential AI-focused acquisitions.
“We are thrilled to receive the confidence and support from MARS Growth Capital to further accelerate our growth,” stated Naveen Tewari, CEO of InMobi.
Tewari emphasized that AI is fundamental to both InMobi’s consumer and enterprise operations.
“We are leveraging AI to enhance revolutionary lock screen experiences and optimize InMobi Advertising’s platforms. We are redefining how ads can be genuinely integrated, aiming to deliver superior engagement and results for consumers, advertisers, and publishers,” Tewari added.
MARS Growth Capital focuses on investing in forward-thinking AI platforms across Asia Pacific and Europe.
Ron Daniel, Co-Founder and CEO of Liquidity Group and CEO of MARS Growth Capital, commented, “Through its joint venture with MUFG, MARS Growth is dedicated to advancing the Asian tech ecosystem. This significant transaction will drive InMobi’s next phase of AI-driven growth.”
