InMobi's IPO Soon? The Unicorn Fuels AI Ambitions with $100 Mn Funding

India's pioneering adtech unicorn, InMobi, has announced a significant milestone in its growth journey – securing $100 million in debt funding from Mars Growth Capital. This substantial financial boost comes as InMobi prepares for its much-anticipated initial public offering (IPO), signaling a strategic focus on bolstering its artificial intelligence (AI) capabilities and potential acquisitions in the AI domain. What are the future plans of InMobi? Let's get into details with TICE.

InMobi's AI Plan

InMobi plans to channel the newly acquired funds into the development and advancement of AI technologies, recognizing its pivotal role in shaping the future of the company. AI already plays a critical part in driving InMobi's innovative offerings, particularly the immersive lock screen experiences provided by Glance and the advanced InMobi Advertising platform.

InMobi's CEO, Naveen Tewari, highlighted the significance of AI, stating, "AI is the bedrock of both InMobi's consumer and enterprise businesses. 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.”

InMobi's IPO and Beyond

The funding infusion comes at a strategic time as InMobi sets its sights on its IPO. The 17-year-old company is in the process of preparing its draft red herring prospectus (DRHP), aiming for a public listing in 2025-26. Reports suggest that InMobi is eyeing a valuation of $10 billion and expects to achieve a revenue of $700 million by March of next year.

In preparation for the IPO, InMobi also plans to shift its domicile back to India from Singapore, further solidifying its roots in the burgeoning Indian tech landscape.

InMobi operates in a highly competitive adtech market, competing with global giants such as Google, Meta, and Yahoo. In India, it contends with notable players like Dailyhunt's parent company VerSe and Crackle. However, the Indian adtech market is projected to experience substantial growth in the coming years, with estimates indicating a CAGR of 25.7% from 2024 to 2030.

InMobi's successful funding round and ambitious IPO plans underline its commitment to staying at the forefront of the adtech industry. With AI as its guiding principle, InMobi is well-positioned to capitalize on the growing market and deliver innovative advertising solutions that benefit consumers, advertisers, and publishers alike.

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