Jio Platforms to invest USD 200 mn in AI-driven lock-screen platform - Glance

Glance, a leading AI-driven lock-screen platform, announced today that it has agreed to raise US$200 million from Jio Platforms (Jio) in its Series D round of funding. The transaction is subject to the satisfaction of customary closing conditions and regulatory approvals.

The proposed investment by Jio is aimed at accelerating Glance's launch in several key international markets outside of Asia such as the USA, Brazil, Mexico and Russia.

The company is aiming to create the world's largest live content and commerce ecosystem on the lock screen and will use the funds raised to expand globally. In addition to Jio Platforms, Glance is also backed by technology giant Google and Silicon Valley-based venture fund Mithril Capital.

Concurrent with the proposed investment, Glance has also entered into a business partnership arrangement with Reliance Retail Ventures (Reliance Retail), providing for Glance's 'lock screen platform' to be integrated into the JioPhone Next smartphones to transform the internet experience for millions of Jio users. This is the latest in a series of strategic partnerships between Glance and global players in the mobile ecosystem. The deal is also expected to lead to further strategic collaborations between Glance, Reliance Retail and Jio across devices, commerce, content and gaming ecosystem.

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