Glance, a mobile-first content platform, is raising Rs 200 crore (around $23 million) in debt from Stride Ventures. This marks its first debt financing and the first fund infusion in three years, following its $200 million Series D round from Jio Platforms in February 2022.
The company’s board has passed a special resolution to issue 20,000 non-convertible debentures to Stride Ventures at an issue price of Rs 1,00,000 each to raise Rs 200 crore, according to its regulatory filing accessed from the Registrar of Companies.
The Singapore-incorporated company will utilize the proceeds for growth, expansion, and general corporate activities, as per filings.
Glance is a mobile-first content platform that powers Glance Lock Screen, offering content and ads directly on mobile lock screens. Its Home Screen feature lets users personalize displays with news, movies, sports, travel, and games, among others.
According to startup data intelligence platform TheKredible, Glance has raised a total of $390 million in equity funding from investors, including Reliance-owned Jio Platforms, Google, and Mithril.
Glance reported a nearly 90% surge in operating revenue to Rs 600 crore in FY24 while incurring a loss of Rs 929 crore.
Glance became a unicorn in December 2020 after raising $145 million from Google and US-based VC Mithril. The company was reportedly in talks to secure $250 million, led by Google. In 2023, Glance’s parent company, InMobi, raised $100 million in debt financing from MARS Growth Capital, a joint venture between MUFG and Liquidity Group.