HMD Global raises USD 100 Million to fuel further Nokia growth

HMD Global has announced that it has raised an additional $100 million from investors to scale business operations and fund the companies growth in its second year.

By Imogen Hargreaves May 30th 2018

HMD Global has announced that it has raised an additional $100 million from  investors to scale business operations and fund the company's growth in its second year.

“We are thrilled to have these investors join us on our journey to script the next chapter of Nokia phones,” said Florian Seiche, CEO, HMD Global.

“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.”

With the latest round of funding, HMD Global’s current market evaluation exceeds USD $1 billion, giving it a unicorn status.

This round of investment has been led by Geneva based, Ginko Ventures via Alpha Ginko with participation from DMJ Asia Investment Opportunity Limited and Wonderful Stars, a subsidiary of FIH Mobile.

Set up on December 1st 2016, the company in its first year shipped more than 70 million Nokia branded phones, scaled sales operations in over 80 countries with phone activations coming from 170 countries.

“We are proud to contribute to the next phase of Nokia phones and the successful raising of this investment round,” said Jean-Francois Baril, Ginko Ventures Managing Director and Founder.

“Personally, as someone who has long been associated with the Nokia brand, this journey is very exciting. From its roots in Finland, HMD Global has chosen an agile strategy that leverages global relationships and collaborations to achieve its phenomenal growth.”