Glance InMobi Pte., a mobile content provider, is in advanced negotiations to secure up to $250 million in a funding round led by Google, its existing backer. This investment aims to support the Indian startup’s efforts to expand and enhance its global market presence. According to sources familiar with the situation, the deal could be finalized in the coming weeks, although the ongoing discussions may still not lead to a conclusive agreement.
The prospective funding highlights Google’s increased focus on the Indian market, the most populous in the world, where it faces competition from local and global tech giants such as Microsoft Corp., Meta Platforms Inc., and Amazon.com Inc. Google’s Android operating system maintains a dominant position in India, but competition from Apple Inc. is intensifying as tech companies vie for the growing middle class in the country.
Glance provides a distinctive service by delivering curated content directly to mobile device screensavers, allowing users to access news and updates without unlocking their devices or opening apps. The company boasts over 300 million users across India, the US, Japan, and Indonesia.
This upcoming funding round follows previous notable investments, including an initial investment from Google in late 2020 and a $200 million investment from Mukesh Ambani in 2022, which valued Glance at over $1 billion. Glance’s largest shareholder is InMobi Pte., a mobile advertising firm founded by Naveen Tewari in 2007 with fellow business-school peers. InMobi, supported by SoftBank Group Corp., became the first venture-backed Indian startup to achieve unicorn status in 2011. Tewari later co-founded Glance in 2019.
