InMobi Group has picked up USD 45 million from Mithril Capital for its content platform Glance.
“Glance is changing the landscape of content consumption to address the demands of the ‘attention economy’ we currently live in. This investment from Mithril will help us further accelerate our journey through continued innovation in content-format, personalisation and content discovery, and expand into new geographies,” Naveen Tewari, founder & CEO, InMobi Group, told Economic Times. The Bengaluru-based startup is looking to raise USD 30 million more to close the maiden funding round.
Mithril Capital is a venture capital firm co-founded by Silicon Valley investors Peter Thiel and Ajay Royan. The Austin-headquartered fund has over USD 1.2 billion under asset management.
Glance will use the fresh capital to expand outside India and amp up its product lineup. It claims to have 50 million monthly active users in India.
Glance delivers media content on the lock screen of Android-powered smartphones in English, Hindi, Tamil and Telugu. It comes pre-installed in smartphone brands such as Samsung, Xiaomi and Ginonee.
In a statement, Mithril Capital’s Royan said, “We share Glance’s global vision of breaking through the constraints of application architectures and linguistic markets to deliver rich, frictionless, and engaging experiences across a myriad of cultures and languages.” Royan has joined Glance’s board.