Jio to invest $ 200 million in Glance, to expand outside Asia

Jio to invest $ 200 million in Glance, to expand outside Asia

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New Delhi. Artificial intelligence based lock screen platform Glance said on Monday that it has agreed to a funding of US $ 200 million from Jio Platforms Limited. This funding will be under Series-D round. Along with this, the company said that this transaction will be subject to the satisfaction of Customary Closing Conditions and Regulatory Approvals.

The purpose of this investment of Jio is to launch Glance outside Asia in some big markets such as America, Brazil, Mexico and Russia. The company wants to make its platform the world’s largest live content and commerce ecosystem on lock-screen and the funds will be used for global expansion. Glance has received support from Jio Platforms as well as Google and Silicon Valley-based venture fund Mithril Capital.

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Along with the proposed investment, Glance has also entered into a business partnership agreement with Reliance Retail Ventures Limited (“Reliance Retail”), which allows Glance’s ‘Lock Screen Platform’ to be added to JioPhone Next smartphones to enable access to millions of Jio users. To change the internet experience. This is the latest in a series of strategic partnerships between Glance and global players in the mobile ecosystem. The deal is expected to lead to further strategic collaboration between Glance, Reliance Retail and Jio across the devices, commerce, content and gaming ecosystems.

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Glance’s lock screen platform is present on more than 400 million devices in the markets of Asia. Glance has brought the best of internet experience to its users without having to search, download any app and even open your phone.

Global expansion expected
Talking about this investment, Akash Ambani of Jio Platforms Limited said that Glance has grown tremendously in the last two years. It has unlocked the power of the lock-screen, giving users an immersive experience of internet, live content, creator driven entertainment commerce and gaming. With the help of this investment, Glance is expected to launch globally in several key markets as well as expand the experience for millions of Jio users.

Tags: business, Jio

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