Google, Nokia, Qualcomm are financiers in $230M Series A2 for Finnish phone maker, HMD Worldwide

Google, Nokia, Qualcomm are financiers in $230M Series A2 for Finnish phone maker, HMD Worldwide

Mobile phone maker HMD Global has announced a$230M Series A2 — its first tranche of external financing given that a $100M round back in 2018 when it toppled into a unicorn appraisal. Given that late 2016 the start-up has solely licensed Nokia’s brand name for mobile phones, going on to ship some 240M gadgets to date. […]
Its latest cash injection is notable both for its size (HMD claims it as the third biggest funding round in Europe this year); and the profile of the tactical financiers tilling in capital– namely:
Google, Nokia and Qualcomm. Whether a tech giant(Google) whose OS dominates the world’s mobile phone market( Android) ending up being a tactical financier in Europe’s last considerable mobile OEM (HMD )captures the attention of regional competitors enforcers remains to be seen. Nokia, meanwhile, has always had a close relationship with HMD– which was developed by previous Nokia officers for the sole purpose of certifying its renowned mobile brand. Its investment into HMD now looks like a vote of confidence in how the business has actually been performing in the increasingly competitive mobile space to date(HMD does not break out a lot of information about gadget sales however Seiche told us it offered in excess of 70M mobiles last year; that’s a combined figure for smart devices and function phones)– as well as an upbeat assessment of the scope of the development chance ahead of it. …