The consumer internet company Glance has announced on Monday that it will receive US $200 million from Jio Platforms Limited in its series D round of funding. Glance has been a revolutionary digital platform that has completely redefined the way the internet is consumed on the lock screen of smartphones. The projected investment from Jio targets the expansion of the platform in major international markets outside of Asia to countries like the USA, Brazil, Mexico and Russia. Glance plans to create the world’s largest live content and commerce ecosystem on the lock screen.
Glance has Witnessed Tremendous Growth
Simultaneous with the projected investment from Jio, Glance has also agreed to a partnership with Reliance Retail Ventures Limited which will aid in the incorporation of Glance’s ‘lock screen platform’ with the upcoming JioPhone smartphones enabling an enhanced internet experience for millions of Jio users. In addition to this, Glance is also backed by technology giant Google and Silicon Valley-based venture fund Mithril Capital.
It is only a step further towards the expansion of the company and many more strategic partnerships are expected in the near future between Glance and global players in the mobile ecosystem. As of now, Glance’s lock screen platform is present on more than 400 million smartphones all across the countries of Asia. The platform allows users to experience enhanced internet connectivity without searching, downloading any apps or even unlocking their phones. All these have been made possible by the company’s unique offering of personalised content based on AI, live e-commerce and gaming features on the lock screen.
As far as Jio is considered, the company has been leading from the front when it comes to the digital services ecosystem in India with a transformational impact on the Indian digital ecosystem over the last 5 years. The director of Jio Platforms Limited, Akash Ambani said in a statement that the growth of Glance over the last couple of years has been remarkable as they offer a unique internet experience for users on the lock screen. He added that this investment will result in solidifying Jio’s ambition to provide the most advanced and next-level tech and digital ecosystem for consumers in India and beyond.