InMobi raises $100 million debt from MARS Growth Capital

SoftBank-backed consumer technology startup InMobi has raised $100 million debt from MARS Growth Capital, a joint venture between Japan’s Mitsubishi UFJ Financial Group (MUFJ) and AI-driven financial asset management firm Liquidity Group.

The funds will be used to propel InMobi’s AI development and deployment efforts forward and fund potential AI-focused acquisitions, the company said in a statement.

The funds will be used to “significantly deepen” AI capabilities “through both organic and inorganic means to deliver more immersive, personalized ways for brands to better engage with consumers,” the company said

“AI is the bedrock of both InMobi’s consumer and enterprise businesses, and we are using it to power the revolutionary lock screen experiences and InMobi advertising’s platforms. We are reimagining how ads can be made truly native by driving superior engagement and outcomes for consumers, advertisers and publishers,” Naveen Tewari, chief executive officer (CEO) of InMobi, said.

MARS Growth Capital invests in future-ready AI platforms in the Asia-Pacific and Europe.

Backed by Liquidity Group’s team of entrepreneurs and data scientists, MARS Growth Capital “is a leading option for high-performing global technology companies in a new age of funding,” the company said in a statement.

“Liquidity, through its joint venture with MUFG, MARS Growth, is committed to growing the Asian tech ecosystem,” Ron Daniel, co-founder and CEO at Liquidity Group and CEO at MARS Growth Capital, said.“As one of our largest transactions to date, this financing will help fuel InMobi’s next phase of AI-led growth.

“AI is redefining the way businesses operate and create value, and InMobi is well-positioned to leverage its capabilities across multiple spaces in consumer and advertising technology,” Navas Ebin, head of Asia-Pacific and managing director at Liquidity and MARS Growth Capital, said. “A business of InMobi’s scale requires an agile tech-driven growth partner. We’re thrilled to work with InMobi to power their next wave of innovation in AI and consumer internet verticals.”