Indian TikTok rival ‘Glance’ raises $145 million from Google.The famous Bengaluru based short video app ‘Glance’ has raised funding of approx. Seven hundred forty crores from Google and Microsoft.
The popular Bengaluru based short video app ‘Glance’ has raised funding of approx. 740 crores from Google and Microsoft
Glance is a subsidiary company of InMobi Group. Which also owns short video platforms “Roposo and Josh“. It is one of the many home-grown short-video apps that’s has grown since the block of popular app TikTok. It delivers AI-driven content in English and local languages like Hindi, Tamil, and Telugu. The content includes visual, immersive, and localized videos. Glance is said to have over 115 million active users. It is genuinely a ‘made in Bharat and for Bharat’ app.
Plans by Google
The $145 million funding was locked in right after a few months Google announced its plans to invest in India for the next seven years. Glance will receive the funds through equity infusions and partnerships. Google informed that the investment from part of its India Digitization Fund was announced to boost India’s digital economy. With this move, Google has kept its promise to support startups, thereby transforming the country’s digital transformation.
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Plans by Glance
Glance is planning to use the investment received to expand in Asia and the US. Further, it will use the fresh funds to launch new services, innovation in artificial intelligence, augmenting its product offerings, and expand its technology team. Additionally, a significant amount will be used to deepen AI capability across Glance. Further, Glance’s parent company VerSe Innovation has raised funding from existing investors, Lupa Systems, and Sofina Group.
