Jio Platforms to invest US$200 million in Glance

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Mumbai : Mukesh Ambani controlled Jio Platforms on Monday announce an investment of US$200 million in Glance, a leading AI-driven lock-screen platform.

The proposed investment by Jio is aimed at accelerating Glance’s launch in several key international markets outside of Asia such as the USA, Brazil, Mexico and Russia. The company is aiming to create the world’s largest live content and commerce ecosystem on the lock screen and will use the funds raised to expand globally. In addition to Jio Platforms, Glance is also backed by technology giant Google and Silicon Valley-based venture fund Mithril Capital.

Concurrent with the proposed investment, Glance has also entered into a business partnership arrangement with Reliance Retail Ventures Limited (Reliance Retail), providing for Glance’s ‘lock screen platform’ to be integrated into the JioPhone Next smartphones to transform the internet experience for millions of Jio users. This is the latest in a series of strategic partnerships between Glance and global players in the mobile ecosystem. The deal is also expected to lead to further strategic collaborations between Glance, Reliance Retail and Jio across devices, commerce, content and gaming ecosystem.

Today, Glance’s lock screen platform is present on more than 400 million devices across markets in Asia. Glance has made it possible for users to experience the best of the internet without searching, downloading any apps or even unlocking their phones. It has accomplished this by pioneering personalized, AI-driven content, live entertainment commerce and gaming on the lock screen.

. “Glance has grown at a phenomenal pace over the past two years and has given users a truly unique solution by unlocking the power of the lock screen for experiencing the internet, live content, creator driven entertainment commerce and gaming. With the help of this investment, Glance expects to launch in several key markets globally as well as extend the experience to millions of Jio users, further reinforcing our commitment to provide the most advanced and next-level tech and digital ecosystem for consumers in India and beyond” Akash Ambani, Director, Jio Platforms Limited, said

 

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