L Catterton, a global consumer-focused investment firm, has made a strategic investment in Glance, the AI-powered shopping platform backed by InMobi and Jio Platforms. The investment comes as the company looks to expand its presence in the United States and build its business around artificial intelligence-led shopping experiences. The financial terms of the transaction have not been disclosed. <Cite refs={[“turn388769search4″,”turn388769search7”]}/>
Glance uses artificial intelligence to help consumers discover products based on their interests and preferences. Its platform operates across smartphones, connected televisions and other digital environments, allowing users to explore products and move from discovery to purchase. The company is developing a shopping experience that relies on personalised recommendations rather than requiring consumers to search for every product themselves.
The latest investment will support Glance’s expansion, particularly in the US market. L Catterton plans to bring its consumer industry expertise, operational capabilities and global network to the partnership as the platform looks to strengthen its position in AI-led commerce. <Cite refs={[“turn388769search4″,”turn388769search3”]}/>
Glance already has partnerships with Samsung, Motorola and DIRECTV, giving it access to millions of devices across the US. These partnerships allow the company to extend its presence across smartphones and television screens, creating additional opportunities for consumers to discover products through the devices they use regularly.
For Glance, the investment marks a new phase in its efforts to move beyond its established content-discovery model towards AI-powered shopping. The company was founded in 2019 and initially built its presence by delivering personalised content, news and entertainment through smartphone lock screens. It has since expanded its focus to include generative AI and personalised product discovery.
The company has previously raised capital from investors including Google, Mithril Capital and Jio Platforms. In February 2022, Jio Platforms announced a $200 million investment in Glance as part of its Series D funding round to support the company’s international expansion. <Cite refs={[“turn388769search5″,”turn388769search6”]}/>
Naveen Tewari, founder and chief executive officer of InMobi and Glance, said the latest investment reflects confidence in the company’s approach to shopping and its ambition to move commerce beyond traditional search-based methods. L Catterton Global CEO Scott Dahnke said AI is changing how consumers discover and purchase products, creating opportunities for more personalised and engaging shopping experiences. <Cite refs={[“turn388769search4”]}/>
Founded in 1989, L Catterton manages approximately $40 billion in equity capital across private equity, credit and real estate investment platforms. The firm has invested in consumer businesses across several markets and brings experience in helping brands expand their reach and operations.
The investment highlights growing investor interest in the use of artificial intelligence across consumer-facing businesses. As companies explore ways to integrate product discovery, personalisation and purchasing into everyday digital experiences, Glance is looking to use its device partnerships and AI capabilities to build its presence in the evolving commerce market.
