Total amount raised
$390 Million
Latest funding date
2/1/2022
Location
Glance has successfully raised funding over three rounds, with Reliance Jio and Mithril Capital Management among its notable investors. The latest funding round was a Series D, led by Reliance Jio.
Glance AI, an innovative platform, offers personalized content on smartphone lock screens and enhances smart shopping experiences. Keep reading to explore the intricacies of Glance's fundraising journey and the investors backing this cutting-edge platform.
What Is Glance?
Glance, founded in Bengaluru, Karnataka, India, is a private company operating in the fields of Artificial Intelligence, Information Technology, Internet, and Software. The company employs between 1001 and 5000 people.
Glance is an AI-driven software company that delivers personalized content on smartphone lock screens and enhances smart shopping experiences. The platform allows users to visualize their unique style and shop with confidence, offering features like instant style visualization and a personal style canvas across every screen.
How Much Funding Has Glance Raised?
- Series Unknown
- Amount Raised: USD 45,000,000
- Date: September 2019
- Lead Investors: Mithril Capital Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and development of the platform.
- Series C
- Amount Raised: USD 145,000,000
- Date: December 2020
- Lead Investors: Google
- Valuation at Round: Reached unicorn status
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series D
- Amount Raised: USD 200,000,000
- Date: February 2022
- Lead Investors: Reliance Jio
- Valuation at Round: USD 2 billion
- Motivation Behind the Round: To accelerate international expansion and create a global live content and commerce ecosystem.
Total Amount Raised: USD 390,000,000. Current Valuation: USD 2 billion.
Key Investors
- Reliance Jio
- Details: Reliance Jio is a major telecommunications company in India, known for revolutionizing the Indian telecom market with affordable data plans. It is a subsidiary of Reliance Industries Limited (RIL).
- Investment Focus Areas: Telecommunications, digital services, technology.
- Notable Investments: Various digital and technology companies, partnerships with global tech companies.
- Google
- Details: Google is a global technology company specializing in internet-related services and products, including search engines, online advertising, and cloud computing. It is a subsidiary of Alphabet Inc.
- Investment Focus Areas: Internet services, technology, software, hardware.
- Notable Investments: Various technology startups and established companies, development of innovative products and services.
- Mithril Capital Management
- Details: Mithril Capital Management is a venture capital firm co-founded by Peter Thiel, focusing on long-term investments in technology companies. The firm aims to support transformative and innovative companies.
- Investment Focus Areas: Technology, innovation-driven companies.
- Notable Investments: Innovative technology companies with transformative potential.
What's Next for Glance?
Glance is poised for significant growth, with opportunities to expand into international markets like the USA, Brazil, Mexico, and Russia. The partnership with Reliance Retail to integrate its platform on JioPhone Next smartphones opens doors to millions of new users, enhancing its reach and engagement.
Future fundraising looks promising as Glance scales its operations and demonstrates growth. The $200 million investment from Jio Platforms is a testament to its potential, and further strategic collaborations could attract additional funding. However, challenges such as competition in new markets and maintaining user engagement will need to be navigated carefully.
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