Glance raises $200mn from Jio Platforms; partners with Reliance Retail

Will use funds for expanding into global markets such as the US, Russia, Brazil and Mexico

Jio Platforms, the subsidiary of Reliance Industries (RIL), is investing $200 million (around Rs 1,500 crore) in Glance, the AI-driven lock-screen platform from InMobi, in a series D funding round. Apart from this, the start-up has also entered into a partnership with Reliance Retail that aims to provide Glance’s ‘lock-screen platform’ on JioPhone Next smartphones.

With this round, Glance’s valuation will rise to $2 billion. Glance had raised $145 million in December of 2020 from Google and existing investor Mithril Capital, making it one of the fastest start-ups to reach the unicorn stage.

The proposed investment by Jio is aimed at accelerating