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Reliance Jio to Invest $200 Million in Mobile Startup Glance

Reliance Industries Ltd.’s digital platform will invest $200 million in the mobile content company Glance InMobi Pte., a sign regional startups continue to attract financing at strong valuations despite setbacks for some newly-public technology stocks.

The funding from Jio Platforms Ltd. values the startup at about $1.7 billion, said two people familiar with the deal asking not to be quoted since the terms are not public. Glance is also backed by Alphabet Inc.’s Google and Paypal co-founder Peter Thiel’s Mithril Capital.