Content platform 'Glance' in Talks to Gain Rs. 200 Crore Fund
Stride Ventures is aiding Glance, a content platform that focuses on mobile devices, raise Rs. 200 crore, or about $23 million, in debt. After Jio Platforms' $200 million Series D round in February 2022, this is the company's first debt financing and its first money infusion in three years.
According to its regulatory filing obtained from the Registrar of Companies, the company's board has adopted a special resolution to issue 20,000 non-convertible debentures to Stride Ventures at an issue price of Rs. 1,00,000 each in order to raise Rs. 200 crore.
According to papers, the Singapore-incorporated business will use the money for normal corporate operations, growth, and expansion.
Glance Lock Screen, which displays content and advertisements directly on mobile lock screens, is powered by Glance, a mobile-first content platform. Users can customize displays with news, movies, sports, travel, and gaming, among other content, using its Home Screen function.
Glance has raised $390 million in equity capital from investors, including Google, Mithril, and Jio Platforms, which is owned by Reliance, according to startup data analytics platform TheKredible.
Despite suffering a Rs. 929 crore loss in FY24, Glance reported an almost 90% increase in operational income to Rs. 600 crore.
After obtaining $145 million from Google and US-based venture capital firm Mithril, Glance became a unicorn in December 2020. According to reports, the company was negotiating to raise $250 million, with Google at the forefront. MARS Growth Capital, a joint venture between MUFG and Liquidity Group, provided $100 million in debt funding to Glance's parent business, InMobi, in 2023.
According to its regulatory filing obtained from the Registrar of Companies, the company's board has adopted a special resolution to issue 20,000 non-convertible debentures to Stride Ventures at an issue price of Rs. 1,00,000 each in order to raise Rs. 200 crore.
According to papers, the Singapore-incorporated business will use the money for normal corporate operations, growth, and expansion.
Glance Lock Screen, which displays content and advertisements directly on mobile lock screens, is powered by Glance, a mobile-first content platform. Users can customize displays with news, movies, sports, travel, and gaming, among other content, using its Home Screen function.
Glance has raised $390 million in equity capital from investors, including Google, Mithril, and Jio Platforms, which is owned by Reliance, according to startup data analytics platform TheKredible.
Despite suffering a Rs. 929 crore loss in FY24, Glance reported an almost 90% increase in operational income to Rs. 600 crore.
After obtaining $145 million from Google and US-based venture capital firm Mithril, Glance became a unicorn in December 2020. According to reports, the company was negotiating to raise $250 million, with Google at the forefront. MARS Growth Capital, a joint venture between MUFG and Liquidity Group, provided $100 million in debt funding to Glance's parent business, InMobi, in 2023.
