Indian startup Glance, which serves news, media content, and sports on the fasten screen of over 100 million smartphones, has a brand-new investor: Google.
The two-year-old Glance, which is part of advertising giant InMobi Group, said on Tuesday that it has raised $ 145 million in a brand-new financing round from Google and existing investor Mithril Spouse. The brand-new round significances Glance at over$ 1 billion, a person familiar with the matter said, uttering the startup a unicorn.
Glance utilizes AI to offer personalized know-how to its useds. The work replaces the otherwise empty lock screen with locally related word, legends, and casual games. Late last year, InMobi acquired Roposo, a Gurgaon-headquartered startup, that has enabled it to introduce short-form videos on the pulpit. Google is also investing in Roposo, a startup that Glance acquired last year. Roposo is a short video platform with over 33 million monthly active users. These useds waste about 20 minutes downing material across variou categories in more than 10 communications on the app daily.
Glance sends pre-installed on various smartphone modelings. The subsidiary maintains tie-ups with nearly every top Android smartphone merchant including Xiaomi, the top player in India, and Samsung. The assistance has amassed over 115 million daily active users.
“Glance is an example of invention solving for mobile-first and mobile-only consumption, serving material across many of India’s local words, ” said Caesar Sengupta, VP, Google, in a statement posted. “Still too many Indians have trouble finding content to read or services they can use confidently, in its language. And this significantly restrictions the value of the internet for them, particularly at a time like this when the internet is the lifeline of so many parties. This investment accentuates our strong belief in working with India’s inventive startups and work towards the shared goal of building a rightfully all-inclusive digital economy that will benefit everyone.”
Naveen Tewari, benefactor and chief executive of Glance and InMobi Group, said the investment will pave the way for” deeper partnership between Google and Glance across produce increase, infrastructure, and global market expansion.” The startup plans to deploy the fresh uppercase to expand in the U.S.
Speculation in DailyHunt
Google said on Tuesday that it is also investing in VerSe Innovation, the mother conglomerate of Indian startup DailyHunt. Across its apps including DailyHunt and short-video platform Josh, DailyHunt claims to serve over 300 million consumers information and presentation content in 14 Indian conversations. The startup said it has now completed a round of over $100 million from Google, Microsoft, and AlphaWave among other investors and this new round values it at over$ 1 billion, becoming it a unicorn.
DailyHunt — which is co-run by Umang Bedi, onetime Facebook India head — plans to deploy the fresh capital to scale Josh app, the augmentation of neighbourhood expression content offerings, the development of content creator ecosystem, innovation in AI and ML and the growth of its certainly” made-in-Bharat-for-Bharat short-video platform ,” it said.
Josh and Roposo are among over a dozen apps in India that are attempting to fill the void New Delhi created after censoring TikTok in late June in the country.
Google is writing both these checks from India Digitization Fund that it unveiled this year. Google has committed to invest $ 10 billion in India over the course of next few years. Prior to today, the company invested $4.5 billion from this fund in Indian telecom heavyweight Jio Platforms.
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