Jio Platforms to invest $200 mn in Glance

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Leading AI-driven lock-screen platform Glance has agreed to raise $200 million from Jio Platforms (Jio) in its ‘Series D’ round of funding, subject to regulatory approvals.

According to Jio, the proposed investment is aimed at accelerating Glance’s launch in several key international markets outside of Asia such as the US, Brazil, Mexico and Russia.

Notably, Glance is aiming to create the world’s largest live content and commerce ecosystem on the lock screen and will use the funds raised to expand globally.

“Glance has grown at a phenomenal pace over the past two years and has given users a truly unique solution by unlocking the power of the lock screen for experiencing the internet, live content, creator driven entertainment commerce and gaming,” Akash Ambani, Director, Jio Platforms, said in a statement.

“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,” he added.

In addition to Jio Platforms, Glance is also backed by technology giant Google and Silicon Valley-based venture fund Mithril Capital.

Concurrent with the proposed investment, Glance has also entered into a business partnership arrangement with Reliance Retail Ventures, providing for Glance’s ‘lock screen platform’ to be integrated into the JioPhone Next smartphones.

Besides, the deal is also expected to lead to further strategic collaborations between Glance, Reliance Retail and Jio across devices, commerce, content and gaming ecosystem.

At present, Glance’s lock screen platform is present on more than 400 million devices across markets in Asia.

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