L Catterton Invests in InMobi's Glance to Take Its AI Shopping Platform Deeper Into the US
The consumer-focused investor, which manages about $40 billion, did not disclose the amount. Glance already reaches US phones and TVs through Samsung, Motorola and DIRECTV.
Why it mattersA big consumer investor backing an Indian-built AI shopping agent signals that brands may soon reach buyers through AI recommendations on lock screens and TVs, not just search and social ads.
L Catterton, a consumer-focused private equity firm, has made a strategic investment in Glance, the InMobi-backed AI shopping platform, to fund its expansion with a particular focus on the United States, the companies announced on 26 October 2026. The amount and other terms were not disclosed.
The deal brings a large consumer specialist into a company already backed by Google, Mithril Capital and Jio Platforms, as Jio prepares to list on the stock exchanges on 28 October. People familiar with the deal told Inc42 it is a fresh equity infusion.
What Glance does
Glance uses agentic AI, software that acts on a user's behalf, to learn what a shopper likes and suggest products on screens they already use, such as phones and connected TVs. It aims to take a user from discovering a product to buying it in one place.
- Origins: founded in 2019 by InMobi's four cofounders as a lock-screen content platform, according to Inc42.
- AI shopping: it launched a generative AI shopping app in India in May 2025, after a soft launch in the US, and works with Myntra in India.
- US reach: it is available on millions of US devices through partnerships with Samsung, Motorola and DIRECTV.
Who is backing it
L Catterton manages about $40 billion in equity capital across private equity, credit and real estate, and has made more than 300 investments in consumer businesses since 1989, Entrackr reported. Glance has raised about $500 million in total, according to Inc42.
Naveen Tewari, founder and CEO of InMobi and Glance, called the investment "a validation of the shopping model we've created". L Catterton's global CEO, Scott Dahnke, said Glance is well placed as shopping shifts towards AI agents.
Why it matters for advertisers
Glance pitches a different route to buyers from search and social feeds: recommendations served on the lock screen or TV, before a shopper opens an app. Jio Platforms, one of Glance's investors, set out its own plan to take on Google and Meta in advertising in its IPO filing.
Questions readers ask
How much did L Catterton invest in Glance?
The amount was not disclosed. People familiar with the deal told Inc42 it was a fresh equity infusion.
What is Glance?
Glance is an AI shopping platform from InMobi that suggests products on smartphones, connected TVs and other screens. It began in 2019 as a lock-screen content platform.
Who owns Glance?
Glance is part of the InMobi group, founded by Naveen Tewari. Its investors include Google, Mithril Capital, Jio Platforms and now L Catterton.
Where is Glance available in the US?
Glance reaches millions of US devices through partnerships with Samsung, Motorola and DIRECTV, according to the companies.
Sources
- L Catterton Announces Strategic Investment in Glance Press Network of India (company release)
- L Catterton Backs InMobi-Backed Glance To Expand Its AI Shopping Business In US Inc42
- L Catterton makes strategic investment in Jio Platforms-backed Glance Entrackr
Jio Platforms IPO Closes Subscribed 22.19 Times, With Institutions Bidding 70 Times Over
Qualified institutional buyers bid for 70.55 times their quota and non-institutional investors 14 times, while retail investors subscribed 2.72 times. Allotment is due on 26 October.
Related stories
More in Startup
- Facts checked against 3 cited sources
- Approved by Samantha D'Souza, Editor-in-Chief
- Spotted an error? Tell us · How we report
The PressRoom Briefing
The day's most important media, entertainment, tech and business stories, in your inbox every morning.