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InMobi secures $100 Mn debt for AI expansion

EntrackrEntrackr · 10m ago
InMobi secures $100 Mn debt for AI expansion
Medial

InMobi, which offers mobile advertising network software, has secured $100 million in debt financing from MARS Growth Capital, a collaboration between MUFG and Liquidity Group. This investment is set to propel InMobi’s ambitious plans for artificial intelligence (AI) development and strategic acquisitions, the company said in a press release. It further aims to offer brands and consumers more immersive, personalized experiences beyond traditional ad units. While InMobi is raising new funds after a gap of five years, it raised back to back capital for its mobile-first content platform Glance from the likes of Jio and Google. For the uninitiated, InMobi was India’s first unicorn which attained the coveted status in 2011. InMobi offers a range of products, including mobile display ads, native ads, and app install campaigns, leveraging advanced machine learning and AI technologies to optimize ad performance. With a significant presence in over 165 countries, it helps businesses connect with their target audiences across various mobile platforms and drive user acquisition and engagement. Headquartered in Singapore, it has a large presence in San Francisco and operations around the globe. “AI is the cornerstone of our technology. With MARS Growth Capital’s support, we can accelerate our efforts to revolutionize digital interactions and advertising,” said Naveen Tewari, CEO of InMobi. As per media reports,InMobi is planning an initial public offering (IPO) in India in the second half of next year. The company is looking at a valuation of $10 billion. It’s also planning to move its domicile from Singapore to India in the coming months.

Capillary Tech board approves Rs 2,250 Cr IPO; doubles ESOP pool

EntrackrEntrackr · 1m ago
Capillary Tech board approves Rs 2,250 Cr IPO; doubles ESOP pool
Medial

Capillary Tech board approves Rs 2,250 Cr IPO; doubles ESOP pool Loyalty management firm Capillary Technologies is inching closer towards its public listing as the Bengaluru-based firm received board nod to float its Rs 2,250 crore or $265 million Initial Public Offering (IPO). The board at Capillary Technologies has passed a special resolution to raise up to Rs 500 crore ($59 million) via fresh issue of equity of shares and an offer for sale of up to an aggregate amount of Rs 1,750 crore ($205 million), its regulatory filing accessed from the Registrar of Companies show. In a separate move ahead of the IPO, the firm has expanded its employee stock ownership plan (ESOP) pool by 123%, increasing it from 32.6 lakh to 72.91 lakh options, which now account for 9.04% of its total share capital. According to Entrackr’s estimates, the expanded ESOP pool is valued at around Rs 212 crore, out of a total pool size of Rs 384 crore. Founded by Aneesh Reddy, Krishna Mehra, and Ajay Modani, Capillary Technologies is a SaaS company that helps brands strengthen customer loyalty. Its platform provides insights that enable brands to offer real-time, personalized, and consistent experiences across multiple channels. As per the company, it operates across the US, India, the Middle East, and Asia, supporting over 100 loyalty programs and partnering with more than 250 brands, including Tata, PUMA, Shell, and Al-Futtaim, among others. Capillary Technologies has raised more than $240 million so far, including a $140 million Series D round completed in February last year. From this amount, $20 million is allocated for employee payouts through its stock ownership plan (ESOP). Earlier this month, the company expanded its presence in North America by acquiring Kognitiv, a provider of omnichannel loyalty solutions, as part of its strategic growth plan.

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