Jio Platforms, a subsidiary of Reliance Industries (RIL), has committed $200 million (about Rs 1,500 crore) in a series D investment round to Glance, InMobi's AI-powered lock-screen platform. Additionally, the start-up has partnered with Reliance Retail to provide Glance's 'lock-screen platform' to JioPhone Next devices.

Glance's valuation will increase to $2 billion as a result of this round. Glance earned $145 million from Google and current investor Mithril Capital in December 2020, making it one of the quickest unicorn startups.

Jio's proposed investment aims to accelerate Glance's entry into several important foreign markets outside Asia, including the United States of America, Brazil, Mexico, and Russia. The company's goal is to build the world's largest lock screen ecosystem for live content and commerce and will utilize the monies collected to do so.

The agreement with Reliance Retail is likely to pave the way for more strategic partnerships between itself, Glance, and Jio in the areas of devices, commerce, entertainment, and the gaming environment.

One of the agreements will be between Roposo and Reliance Retail, through which the latter will be able to access the former's live commerce platform. Over 30 million people utilize the live commerce platform on a daily basis.

Glance will be incorporated into Jio's and Google's Pragati OS."

Glance has a user base of almost 190 million users in Asia, 163 million of them in India. Users spend an average of 25 minutes each day on Glance.

"Glance has built a disruptive lock screen-first discovery platform for live content, commerce, and gaming in Asia, and we want to extend it internationally moving forward," said Piyush Shah, co-founder of InMobi Group and president and COO of Glance. Jio's investment reaffirms this goal and provides us with the resources necessary to bring Glance's revolutionary experience to surfaces worldwide. We look forward to collaborating with Jio to co-create the future content, creative, and commerce ecosystems."