Google is reported to be eyeing a leading role in a potential $250 million funding round of India-based mobile content company Glance, advancing the search giant’s existing investment in the company and nation as a whole.
Bloomberg stated the capital raise will fund Glance’s expansion efforts, though noted there is no certainty a move will be finalised.
If all goes to plan, however, the news outlet explained it will advance Google’s interests in India, a nation it stated is becoming a key battleground for tech bigwigs including Apple and Microsoft.
Glance already operates in the US, Japan and Indonesia: it states it “redefined” how web content is consumed on lock screens by “removing the need for searching and downloading apps”.
In March, Glance released a report indicating it had 235 million active users in India at end-2023, with national news, sports and entertainment content topping the bill. Men comprised 61 per cent of its users, with 47 per cent of its total aged under 24-years.
The company was founded in February 2019 and raised $45 million later that year from Mithril Capital to fund product development.
It raised a further $145 million in December 2020 in a round involving the VC company and Google, which Glance put towards developing AI capabilities, product launches and expanding its team.
Bloomberg reported Mukesh Ambani pumped $200 million into Glance in 2022, an investment which brought the company’s overall valuation to more than $1 billion.
Glance counts Samsung and SoftBank Corp among its partners and stated more than 400 million smartphones came equipped with the service as of March.