HMD Global, the Espoo-based developer and marketer of Nokia-branded handsets, has raised over 100 million US dollars in funding to ramp up its business in its second full year of operation, lifting its market valuation to over one billion dollars.
The start-up says in a press release it will use the funding to aggressively expand its range of smartphones and to double its sales channels in strategically important markets by the end of 2018.
“Our objective is to continue introducing to the market fine smartphones that please our fans around the globe,” comments Florian Seiche, the CEO of HMD Global. “Our objective is to be one of the leading operators in the global smartphone market, and our success thus far has reinforced our confidence in our ability to continue on the growth path in 2018 and beyond.”
The newly completed funding round was led by Switzerland’s Ginko Ventures with participations also from DMJ Asia Investment Opportunity Limited and Wonderful Star.
