Google, Qualcomm and Nokia Back HMD Global in Funding Round

HMD Global, the owner of the Nokia smartphone brand, successfully closed $230 million USD in its first closing of current funding round from some of its global strategic partners. The company said that this investment will further fuel their 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, and finally 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. Reuters named Google, Qualcomm and Nokia among the investors.

“Our unique business model, based on asset-light global deployment and strong partnerships with the best in the industry, is entering a new level of maturity with the valued support of some of the most influential market-makers in mobile devices. I am extremely proud of our significant achievements to date and also thrilled about the immense opportunity before us to accelerate our journey towards excellence,“ said Jean-Francois Baril, Executive Chairman and Co-Founder of HMD.

“Since the very beginning, HMD Global has worked to build strong bonds with our strategic partners. This additional investment further validates our long-term business strategy and is evidence of our collective mission to make modern mobile technology accessible to everyone. Security, reliability and dependability are the cornerstones of our offering and we will ensure we are using these funds to deliver the best experiences people have come to expect from a Nokia phone. As the only major European smartphone manufacturer, we remain true to our Finnish roots and the hallmarks that our customers trust Nokia phones to be synonymous with. With the support of our heavyweight partners, I am truly excited for the next chapter of Nokia phones,“ added Florian Seiche, CEO of HMD.