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© hmd global Electronics Production | May 22, 2018

HMD Global raises $100 million to fuel its next phase of growth

Finland based start-up, HMD Global, says that it has raised additional USD 100 million from multiple investors to scale business operations and fund the company’s growth in its second year. Meaning that we will se more Nokia phones on the market.
This round of investment has been led by Geneva based, Ginko Ventures via Alpha Ginko Ltd. with participation from DMJ Asia Investment Opportunity Limited and Wonderful Stars Pte. Ltd., a subsidiary of FIH Mobile Ltd.

With the latest round of funding, HMD Global’s current market valuation exceeds USD 1 billion, giving it a unicorn status. HMD Global will be making strategic investments in scaling its growing business operations. In 2018, the company plans to aggressively expand its portfolio of Nokia smartphones and double down on expanding channel reach in strategic markets while continuing to deliver innovation where it matters most to consumers, the company states in a press release.

Florian Seiche, CEO, HMD Global, said, "We are thrilled to have these investors join us in our journey to script the next chapter of Nokia phones. It is our ambition to deliver great smartphones that delight our fans while staying true to our Finnish roots and the hallmarks that the Nokia brand has always been known for. We aim to be among the top smartphone players globally and our success to date gives us the confidence to further continue on a growth path in 2018 and beyond."

Just in its first year the company has shipped more than 70 million Nokia branded phones, scaled sales operations in over 80 countries with phone activations coming from 170 countries.

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June 15 2018 12:12 am V9.6.1-1