Mithril Capital to invest $45m in India AI startup Glance
Dealstreetasia.com - Tue 10 Sep 11:09 GMT

Peter Thiel’s VC firm is investing $45 million in Glance, an Indian technology startup that uses AI to personalize content for smartphones.

  Peter Thiel’s venture capital firm is investing $45 million into Glance, an Indian technology startup that uses artificial intelligence to personalize content for smartphones.

  Glance is part of InMobi Group, a mobile marketing firm backed by Japan’s SoftBank Group Corp.

  Glance, which claims 50 million daily active users, delivers customized videos and information to people’s smartphones, with new interactive content every time users wake up their phones.

  As of August, users spend an average of 22 minutes a day on Glance.

  A new generation of content companies are turning to artificial intelligence, rather than people, to win over new users.

  Glance plans to use the new funds to launch several new services, including a short-form video platform, a destination for casual gamers and a shopping application.

  “We share Glance’s global vision of breaking through the constraints of application architectures and linguistic markets to deliver rich, frictionless, and engaging experiences across a myriad of cultures and languages,” he said in the statement.