Glance raises $200 Million from Jio Platforms

The subsidiary of Reliance Industries, Jio Platform is investing $200 million in Glance in its series D funding round. The start-up, Glance is also entering a partnership with Reliance Retail with the aim to have its lock-screen platform on Jio’s next smartphone. 

Glance is the AI-driven lock-screen platform from InMobi, which is present on more than 400 million devices across markets in Asia. With this funding round, the total valuation of the company will rise to $2 billion. Glance has raised $145 million in December of 2020 from Google and other existing investors, making it one of the fastest start-ups to reach the unicorn stage.

The partnership between Jio and Glance will also lead to further strategic collaboration between the companies across Jio across devices, commerce, content, and the gaming ecosystem. Jio Platforms is also planning to roll out the lock-screen system of Glance around 100 million handsets in India.

Currently, Glance has a user base of almost 190 million across Asia, the majority of which is the Indian user base, with an average time of 25 minutes per day spent by users on the platform.