InMobi has successfully secured $100 million in debt financing and it is said to drive the development of its AI-enhanced consumer applications. CEO Naveen Tewari emphasized the focus on utilizing generative AI at the application level and aims to deliver more personalized as well as intuitive experiences to users.
The company is concentrating on transforming consumer-facing apps with the power of AI and not on competing in the infrastructure race.
Tewari pointed out that the AI segment is dominated by smaller as well as highly innovative companies. He mentioned that InMobi is not currently targeting any specific companies for acquisition, but are always on the lookout for talented individuals who are equipped with expertise to help in accelerating the company’s technical growth. InMobi is also gearing up for an initial public offering (IPO). Tewari revealed that the IPO is expected soon and its Glance subsidiary is likely to go public by FY26.
Meanwhile, e-commerce enabler GoKwik has made a strategic move by acquiring global returns management app within the Shopify ecosystem, Return Prime. It has plans to onboard more than 10,000 merchants within the next six to twelve months. GoKwik’s CEO Chirag Taneja highlighted the importance of addressing the growing issue of e-commerce returns. Taneja believes that improving the returns process is essential for driving customer loyalty and retention.
Return Prime currently serves 6,000 merchants across 50 countries and processes more than $100 million in return GMV annually. Its global scale aligns with the mission of GoKwik to democratize the shopping experience and provide a seamless experience for non-Amazon retailers. The acquisition is expected to enhance margins and earnings of GoKwik.
Moreover, Playbook Partners of Vikas Choudhury announced the first close of its maiden fund and raised more than $130 million from global investors.
