Jolla closes third round of funding, ready to boost software vending

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Finnish start-up Jolla announced that it was able to secure $12 million in its third funding round. It was dispersed an undisclosed portion of the money when the round closed in December, but received the rest only now.

It could’ve used the money in November. But the company wasn’t able to close the funding round in time and thus, failed to fully mass-produce its crowdfunded tablet. It is in the midst of a massive refund process, the first round of which should go on through this month. Jolla is adamant to sticking with its timeline, one that sees the remaining backers getting their refunds possibly by next May. And that’s dependent on its financial health.

According to TechCrunch, the company was able to get out of debt restructuring and is directing the capital to licensing out Sailfish OS 2.0 and hire software developers “for new and upcoming products”.

“We are currently focusing strongly on software development and licensing projects, meaning that consumer device business is not our ambition as such. However, we might of course introduce new interesting spearhead products for Sailfish OS,” Jolla chairman Antti Saarnio said.

In its December press release regarding the funding, Jolla states that it will vending work to on-the-ground partners in Russia, India and China — all environments that would favor an alternative OS to the dominant Android and iOS — with Brazil and South Africa as secondary focuses. The company has been able to work with African manufacturer Mi-Fone, India’s Intex and Turing Robotics on software for each of their phones.

Saarnio is planning on additional funding rounds.

Source: TechCrunch

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About The Author
Jules Wang

Jules Wang is News Editor for Pocketnow and one of the hosts of the Pocketnow Weekly Podcast. He came onto the team in 2014 as an intern editing and producing videos and the podcast while he was studying journalism at Emerson College. He graduated the year after and entered into his current position at Pocketnow, full-time.