Debt financing
Mobile-based content platform Glance to raise Rs.200-Cr from Stride Ventures
Singapore-incorporated Glance , a subsidiary of InMobi and a mobile-first content platform, is raising INR 200 crore (around USD 23 million) in debt from Stride Ventures. This marks its first debt financing and the first fund infusion in three years, following its USD 200 million Series D round from Jio Platforms in February 2022. The company will issue 20,000 non-convertible debentures (NCDs) to Stride Ventures at INR 1,00,000 each to raise INR 200 crore.Glance has raised USD 390 million in equity funding from investors, including Reliance-owned Jio Platforms, Google, and Mithril. It reported a nearly 90% surge in operating revenue to INR 600 crore in FY24 while incurring a loss of INR 929 crore.Glance provides a "smart lock screen" platform, allowing users to discover content like news, entertainment, games, and shopping options directly on their phone's lock screen without needing to open any apps.
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