InMobi, India’s first unicorn and a global ad tech leader, has secured $100 million in debt funding from Mars Growth Capital, a joint venture between MUFG and Liquidity Group. This move comes as InMobi prepares for its initial public offering (IPO), aiming for a $10 billion valuation. The fresh capital will enhance its artificial intelligence (AI) capabilities and fuel AI-focused acquisitions, marking a significant leap in the company’s growth strategy.
The SoftBank-backed ad tech startup, founded in 2007 by Naveen Tewari, Piyush Shah, Mohit Saxena, and Abhay Singhal, plans to deploy the funding to bolster its AI initiatives. InMobi is also eyeing AI-driven acquisitions to stay ahead in competitive digital advertising.
The company has already diversified from its core ad tech business with Glance. This AI-powered platform has become a unicorn, offering personalized content on Android lock screens.
InMobi, IPO Plans and Global Ambitions
InMobi is gearing up for an IPO, expected to take place in 2025-26. It plans to file its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) this year or early next year. The company is also shifting its domicile back to India from Singapore, underlining its deepening ties with its home market as it prepares for public listing.
With operations in over 165 countries and a significant presence in North America, InMobi generates 70-80 percent of its revenue from the region. The company expects to reach $700 million in revenue by March 2025, further solidifying its global ad tech powerhouse status.
Competing with giants like Google, Meta, and Yahoo, InMobi has raised $320.1 million from investors like Sherpalo Ventures, SoftBank Vision Fund, and Kleiner Perkins.
Commenting on the funding, InMobi CEO Naveen Tewari said, “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 native by driving superior engagement and outcomes for consumers, advertisers and publishers.”
Transition in Business Models
In addition to ad tech, InMobi’s subsidiary Roposo is transforming from an influencer-driven commerce platform into a broader social commerce venture. This evolution will allow users to create their own stores, leveraging generative AI tools to sell products, adding another layer to InMobi’s diverse business portfolio.
The Indian ad tech market is expected to grow at a compound annual growth rate (CAGR) of 25.7 percent between 2024 and 2030, positioning InMobi well for sustained growth.
Stay ahead of the curve and follow IndiaTechDesk on Facebook, Twitter and Linkedin for in-depth news of market trends, funding updates, and regulatory changes affecting startups in India.
Read More:
- Byju’s replace Paytm to become India’s most valuable startup
- How is Skilfinity Assisting Brands to be Visible and Popular Online?
- Zepto, a Quick Commerce Platform Secures $200 Million in Series-E Funding, Achieves Unicorn Status
- Indian Government will Provide 50 Lakh under Grant Program to Boost Technical Textiles Startups
- Super-app build up: Tata Digital on buying spree; gets a stake in online pharmacy 1MG
