InMobi Secures $100M Debt Financing from MARS Growth Capital Ahead of Planned Public Listing

In a strategic move to fuel its artificial intelligence (AI) capabilities, InMobi, a SoftBank-backed adtech leader, has raised $100 million in debt financing. The funding was secured from MARS Growth Capital, a joint venture between Mitsubishi UFJ Financial Group (MUFG) and Liquidity Group. The Singapore-headquartered company, which is gearing up for a public listing in India next year, plans to use the funds to advance its AI initiatives and explore potential acquisitions in the AI space.

AI-Powered Growth

InMobi's focus on AI-driven growth is central to its business strategy. The company aims to leverage the new funds to bolster its AI development and deployment across both its consumer and enterprise divisions. According to CEO Naveen Tewari, AI is revolutionizing InMobi’s advertising platforms, creating more personalized and immersive experiences for consumers, advertisers, and publishers.

“We are reimagining how ads can be made truly native by driving superior engagement and outcomes for consumers, advertisers, and publishers,” said Tewari.

InMobi’s AI-first approach enables brands to engage with consumers beyond traditional ad units, making advertising more seamless and effective. The company aims to deepen its AI capabilities through both organic and inorganic growth, with acquisitions being a key part of this strategy.

MARS Growth Capital’s Support

MARS Growth Capital, which provides financing solutions to fintech, SaaS, and e-commerce businesses in Southeast Asia, the Pacific, and Europe, played a crucial role in this transaction. The company utilizes AI and machine learning technologies to offer financing solutions ranging from $3 million to $100 million for mid-market, late-stage, and pre-IPO technology companies.

“This financing will help fuel InMobi's next phase of AI-led growth,” said Ron Daniel, co-founder and CEO of Liquidity Group, and CEO of MARS Growth Capital. The investment highlights MARS Growth’s commitment to expanding the Asian tech ecosystem.

InMobi’s AI-First Strategy and Operational Changes

Earlier this year, InMobi announced a shift towards an AI-first strategy across its operations, which has led to a restructuring of the company. This transition resulted in job cuts, with 125 employees (5% of its global workforce) being laid off. Despite these challenges, InMobi remains focused on innovation and growth, particularly in the AI space.

Expanding Through Glance and Roposo

InMobi operates two main businesses: InMobi Ads, a B2B adtech platform, and Glance, a B2C smart lock screen platform that delivers personalized content and entertainment. Glance enables businesses to reach users through targeted ads and is also working on expanding its video-commerce platform, Roposo, and its gaming platform, Nostra.

Glance has been making headlines of its own, with reports that it is in advanced negotiations to raise $250 million in funding, led by Google, one of its existing investors.

Preparing for an IPO

With the $100 million debt financing and its AI-first strategy, InMobi is positioning itself for a successful public listing in India next year. The company’s backing from key investors like Google, Jio Platforms, and Mithril Capital further strengthens its standing in the competitive adtech market.

As InMobi continues to enhance its AI capabilities, the company is poised to lead the charge in redefining how brands interact with consumers in the digital advertising space.