Jio Platforms to invest $200 million in Glance
Glance, the lock-screen platform, has agreed to raise $200 million from Jio Platforms Limited. Jio’s investment in Glance, according to Naveen Tewari, founder and CEO of InMobi Group, represents a deep synergy of vision and philosophy.
Jio Platforms has announced a $200 million investment in Glance, an AI-powered lock screen platform. Glance’s goal is to build the world’s largest live content and commerce ecosystem on the lock screen, and the funds raised will be used to expand globally.
Jio’s proposed investment aims to accelerate Glance’s launch in several key international markets outside of Asia, including the United States, Brazil, Mexico, and Russia.
“With the help of this investment, Glance expects to launch in several key markets globally as well as extend the experience to millions of Jio users, further reinforcing our commitment to provide the most advanced and next-level tech and digital ecosystem for consumers in India and beyond,” Jio Platforms Director Akash Ambani said.
As part of the agreement, Glance will be integrated into the Pragati OS, which was developed by Jio Platforms and Google, to bring LIVE content to millions of Jio users’ Lock Screens. The integration will be managed through a separate business partnership with Reliance Retail Ventures.
Glance is backed by technology giant Google as well as Silicon Valley-based venture fund Mithril Capital, in addition to Jio Platforms. Glance’s goal is to build the world’s largest live content and commerce ecosystem on the lock screen, and the funds raised will be used to expand globally.
