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HMD Global raises $230 million investment from strategic partners

By Prakhar Khanna August 11, 2020, 9:00 am

HMD Global has announced that it has successfully closed 230 million USD in its first closing of current funding round from some of its top global strategic partners. The company says Nokia smartphones come with a premium Nordic design that is inspired by the company’s European heritage and market-leading reliability. They feature a two-year Android software upgrade commitment with the Android One promise.

As the only key European smartphone player, HMD Global is increasingly popular with both enterprises and consumers who are looking for a pure, secure, and up-to-date smartphone experience. The investment will further fuel HMD Global’s strategic vision in four key areas.

Firstly, it will accelerate the company’s mission to make 5G smartphones accessible to consumers across the world, with an emphasis on strong partnerships with US carriers. Secondly, HMD Global will further transition to digital-first offerings as part of a new post-COVID reality. It will also expand its presence in key growth markets including the recently introduced operations in Brazil, as well as Africa and India. Lastly, the investment will help the business strengthen its leading position beyond just hardware and into a holistic mobile service provider.

This year alone, HMD Global launched its international data roaming service, HMD Connect, enhanced its mobile cybersecurity capabilities with the acquisition of assets of Valona Labs, and built dedicated resources on software, security and services with a new research and development Centre of Excellence in Tampere, Finland.

Since the company began its operations in 2016, HMD Global is now active in 91 markets across 8 regions and 250,000 retail outlets and has sold over 240 million phones to date.

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