Softbank-backed InMobi raises $100 mn via debt financing agreement

IPO-bound adtech firm InMobi on Wednesday said it has raised $100 million via debt financing agreement from MARS Growth Capital to fund expansion of its artificial intelligence (AI) capabilities. MARS Growth Capital is a joint venture between MUFG and Liquidity Group.

The Softbank-backed firm said that this financing round will be used to significantly deepen the company’s AI capabilities through both organic and inorganic means to deliver more immersive, personalised ways for brands to better engage with consumers beyond the standard ad unit.