Ginko leads $100m round for HMD Global

Other backers DMJ Asia Investment Opportunity and Singapore-based Wonderful Stars, a subsidiary of FIH Mobile, also participated in the round.

With the fresh capital, HMD plans on making strategic investments to scale up its business operations. It intends to expand its portfolio of Nokia smartphones in 2018, and double its presence in strategic markets.

According to the firm, the latest funding round estimates HMD Global's market valuation at $1bn.

Company
Founded in 2016 and headquartered in Espoo, HMD designs and manufactures handset products under the Nokia brand. In its first year the company shipped 70 million Nokia-branded phones and scaled sales operations in 80 countries with phone activations coming from 170 countries. In its 2017 financial year, HMD posted revenues of €1.8bn along with an operational loss of €65m.

People
Ginko Ventures – Jean-Francois Baril (managing director, founder).
HMD Global – Florian Seiche (CEO).

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