The HMD Global announced that it raised $230 million in new funding round, called “series A2”. The money came from existing strategic partners of the company, such as Google, Qualcomm, and the consumer division of Nokia Technologies, along with some other, unidentified investors.
The Finnish company stressed that this was the “first closing” of the round, thus announcing that additional funding will be added later. A company spokesman confirmed that the value of HMD Global now exceeds $1 billion.
Although Nokia as a company no longer manufactures consumer devices, the brand is still synonymous with feature phones and smartphones, thanks to the licensing of HMD Global.
Although HMD Global has already announced its first 5G device, the Nokia 8.3, we have not seen it on the market yet. These $230 million will help the company accelerate the development and launch of more 5G devices for consumers worldwide, the company says. It will also help her in more partnerships with providers and retailers.
To Recall, HMD Global raised $100 million in 2018 from Swiss VC firm Ginko Ventures, DMJ Asia Investment Opportunity, and Wonderful Stars, a subsidiary of FIH Mobile.
