InMobi, the SoftBank-backed consumer technology firm, has announced it has raised $100 million in debt financing from MARS Growth Capital, a joint venture between MUFG and Liquidity Group. This funding will be allocated to advance InMobi’s artificial intelligence (AI) technology and to explore potential AI-focused acquisitions.
The company, which is preparing for a potential listing in India, plans to leverage the new capital to enhance its AI capabilities. Naveen Tewari, CEO of InMobi, expressed enthusiasm about the investment, noting that AI is fundamental to the company’s consumer and enterprise operations. InMobi aims to use AI to transform lock screen experiences and enhance its advertising platforms by making ads more native and engaging for users, advertisers, and publishers.
MARS Growth Capital, known for investing in forward-looking AI platforms in Asia Pacific and Europe, sees this financing as a significant boost to InMobi’s AI-driven growth. Ron Daniel, Co-Founder and CEO of Liquidity Group and CEO of MARS Growth, highlighted the importance of this transaction in supporting the growth of the Asian tech ecosystem.
