Glance, a mobile-first content platform, pursues its first debt funding of Rs 200 crore (around $23 million) from Stride Ventures. The company has secured its initial debt financing after raising funds for the first time since 2019 when Jio Platforms provided $200 million during the February 2022 Series D round.
The corporate board authorized a special resolution to distribute 20,000 non-convertible debentures for Rs 1,00,000 each to Stride Ventures resulting in Rs 200 crore capital increase based on their regulatory filings with ROC. The funds from the Singapore-based firm are designated for growth followed by expansion activities together with general corporate purposes according to regulatory documents.
Glance is a mobile-first content platform that powers Glance Lock Screen, delivering content and ads directly to mobile lock screens. Its Home Screen feature allows users to customize their displays with news, movies, sports, travel, games, and more.
TheKredible startup data platform reports Glance has obtained 390 million USD through equity investments from Jio Platforms and Mithril along with Google as a stakeholder.
Glance's operating revenue for FY24 increased by 90% as it achieved Rs 600 crore at a loss of Rs 929 crore.
The unicorn milestone arrived for Glance during December 2020 through its 145 million USD funding partnership with Google and Mithril. The company conducted negotiations to gather 250 million USD funding while Google took the leading position as its primary investor.
The parent company of Glance received 100 million USD in debt financing through MARS Growth Capital which operates as a joint venture between MUFG and Liquidity Group in 2023.
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