InMobi raises $100 million debt from MARS Growth Capital

SoftBank-backed mobile advertising company InMobi on Wednesday announced its $100 million debt round from MARS Growth Capital, a joint venture between MUFG and Liquidity Group. The company said it will deploy capital towards enhancing its artificial intelligence (AI) development and deployment efforts and fund potential AI-focused acquisitions.

“This financing round will be used to significantly deepen the company’s AI capabilities through both organic and inorganic means to deliver more immersive, personalized ways for brands to better engage with consumers beyond the standard ad unit,” InMobi said.