InMobi, a global consumer technology company transforming how consumers discover and consume content, shop, and engage with brands, announced the closing of a $100 million debt financing agreement from MARS Growth Capital, a joint venture between MUFG and Liquidity Group. The funds will be used to propel InMobi’s artificial intelligence (AI) development and deployment efforts forward and fund potential AI-focused acquisitions.
InMobi has revolutionized the way the world engages with mobile devices and pioneered efforts in harnessing the power of both AI and machine learning for more than a decade. This financing round will be used to significantly deepen the company’s AI capabilities through both organic and inorganic means to deliver more immersive, personalized ways for brands to better engage with consumers beyond the standard ad unit.
“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,” says Naveen Tewari, CEO of InMobi. “We’re pleased to have the confidence and funding from MARS Growth Capital to further accelerate our growth trajectory.”
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MARS Growth Capital invests in future-ready AI platforms in APAC and Europe. Backed by Liquidity Group’s experienced team of entrepreneurs and data scientists, machine learning, MARS Growth Capital is a leading option for high-performing global technology companies in a new age of funding.
“Liquidity, through its JV with MUFG, MARS Growth, is committed to growing the Asian tech ecosystem,” says Ron Daniel, Co-Founder and CEO, Liquidity Group and CEO, MARS Growth. “As one of our largest transactions to date, this financing will help fuel InMobi’s next phase of AI-led growth.”
“AI is redefining the way businesses operate and create value, and InMobi is well-positioned to leverage its capabilities across multiple spaces in consumer and advertising technology,” says Navas Ebin, Head of APAC, Managing Director at Liquidity and MARS Growth Capital. “A business of InMobi’s scale requires an agile tech-driven growth partner. We’re thrilled to work with InMobi to power their next wave of innovation in AI and consumer internet verticals.”
SOURCE: BusinessWire