Mobavenue AI Tech To Raise INR 100 Cr To Boost AI Growth

Mumbai-based AI startup Mobavenue Datalabs’ board has approved raising about INR 100 Cr through a preferential allotment of 9.19 lakh equity shares.

In a filing on November 21, the company said its board approved issuing shares through a preferential private placement to non-promoters at INR 1,088 per share.

Pipal Capital Management, Aman Shivraj Agro Industries, Amit Mishra, and MJ Construction are among the 10 investors who will receive the allotted shares.

After the announcement on Friday, the company’s shares rose 5% to close at INR 993.05 on the BSE. On November 24 (Monday), the stock jumped 5% intraday to INR 1,094.80 and closed at INR 1,055.

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In its filing, Mobavenue said it will use 75% of the new funds for strategic acquisitions and investments. These acquisitions, aligned with the company’s long-term goals, aim to expand its portfolio and boost revenue growth.

The company plans to use 15% of the funds for growth and technology upgrades, with the rest for general corporate purposes. The capital will help Mobavenue strengthen its AI and data capabilities, enhance its products and platforms, and improve operations to grow in both domestic and international markets.

“The INR 100 Cr infusion will empower us to accelerate our technology roadmap, strengthen our AI-led product ecosystem, and expand our presence across key global markets. We also intend to explore selective, strategic acquisitions that enhance our capabilities and align with our long-term mission,” said Ishank Joshi, MD and CEO of Mobavenue.

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Mobavenue, a bootstrapped company founded in 2017 by Joshi, Tejas Rathod, and Kunal Kothari, helps digital-first brands advertise beyond closed tech ecosystems.

The company uses its proprietary technology to deliver integrated, measurable advertising results. Operating efficiently with core teams in India, Mobavenue plans to expand globally over the next three years to North and South America, the UK, EU, East Asia, and LATAM, supported by local hires.

In Q2 FY26, Mobavenue’s revenue from operations rose 17.1% quarter-on-quarter to INR 54.32 Cr. EBITDA grew 26.3% to INR 11.04 Cr, with a margin of 20.3%. Profit after tax (PAT) increased 21.7% to INR 7.30 Cr, with PAT margin at 13.4%.

For H1 FY26, revenue crossed INR 100 Cr, and PAT reached INR 13.30 Cr.

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