Finland-based startup HMD Global, the exclusive licensee for Nokia’s phones and tablets, has raised an additional 100 million US dollars to scale up operations and fuel growth.

The investment round was led by Swiss-based Ginko Ventures, via Alpha Ginko, with participation from DMJ Asia Investment Opportunity Limited and from FIH Mobile subsidiary Wonderful Stars.

The latest funding gives <a href="https://www.hmdglobal.com/" target="_blank" rel="noopener noreferrer">HMD Global</a> a unicorn status, as its current market valuation exceeds one billion US dollars. The company plans to make strategic investments with the funds to scale up its operations and reach in strategic markets, and in 2018 sets out to aggressively expand its Nokia smartphone portfolio.

&#8220;We are thrilled to have these investors join us in our journey to script the next chapter of Nokia phones,&#8221; says Florian Seiche, CEO of HMD Global. &#8220;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.&#8221;

After launching on 1 December 2016, HMD Global shipped more than 70 million Nokia-branded phones in its first year and set up sales operations in more than 80 countries. In 2017, the company reported a total revenue of 1.8 billion euros, along with an operational loss of 65 million euros.

HMD Global raises USD 100 million funding

hmd-global-raises-usd-100-million-funding

Good News from Finland

Credits

Oops, looks like there are no things to do

Oops, looks like there are no venues with the current filters

Filters

Other

Places

Refine your result

Regions

Seasons

Select a category

Distance from Helsinki

To make this site work properly and to provide a good user
            experience, we sometimes place cookies on your device. A cookie is a
            small text file that a website saves on your computer or mobile
            device when you visit the site. It enables the website to remember
            your actions and preferences (for example your language and cookie
            preferences) over a period of time, so you don’t have to keep
            re-entering them whenever you come back to the site or browse from
            one page to another. Cookies can be short-term or long-term.

We use cookies to collect information about users so that we can
            tailor your user experience, provide the best possible
            functionality, and develop our services. We can use both first-party
            and third-party cookies. First-party cookies are cookies that have
            been created and are stored by this website (Visitfinland.com).
            Third-party cookies are created and placed by third parties other
            than this website, used for actions like cross-site tracking and
            online advertising.

Cookies

Here you’ll find all your carefully selected favourites, neatly together.

Your saved items

We are a service that covers positive and globally interesting news topics related to Finnish businesses and innovations.

Explore positive news stories from Finland, covering innovation, sustainability, and global achievements. Stay informed with the latest updates on Finnish businesses and initiatives.