HMD Global, the manufacturers of Nokia phones raise USD 100 Million

HMD Global, the Finnish company that currently manufactures and sells Nokia phones worldwide raised a total of USD 100 Million from different investors. The funding was led by Ginko Ventures, which is a Geneva based venture fund. Other investing parties included Wonderful Stars and DMJ Asia.

Florian Seiche, CEO, HMD Global, said in a statement “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.”

After this round of funding, HMD Global’s valuation has exceeded the USD 1 Billion cap, which is a significant milestone for any company. The company was setup in 2016 and has already shipped over 70 million phones in a year of its operation in over 80 countries world wide.

Karan Raj Baruah