Reliance Industries' digital arm Jio Platforms has invested $200 million in artificial intelligence-powered lock-screen platform Glance in its Series D funding round.
The proposed investment by Jio is aimed at accelerating Glance’s launch in several key international markets outside of Asia such as the US, Brazil, Mexico and Russia, according to a statement.
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, the statement added.
“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," said Jio Platforms director Akash Ambani.
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, Ambani added.
Founded in 2019, Glance is a consumer internet company that has created two platforms Glance and Roposo. The company claims it redefined the way internet is consumed on the lock screen, removing the need for searching and downloading apps.
Glance is available on default in 60% to 65% of new smartphones sold in India, thanks to tie-ups with Samsung, Xiaomi, Vivo, Oppo and Realme
In addition to Jio Platforms, Glance is also backed by technology giant Google and Silicon Valley-based venture fund Mithril Capital.
Further, Glance is also partnering with Reliance Retail, providing for the company's ‘lock screen platform’ to be integrated into the JioPhoneNext smartphones.
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, said the official statement.
