Nokia phone-maker HMD Global raises $100 million to grow biz

NEW DELHI: HMD Global, which designs and sells Nokia brand of phones, on Monday said it has raised $100 million from Geneva-based Ginko Ventures and other investors to scale its business operations.

“This round of investment has been led by Geneva-based Ginko Ventures via Alpha Ginko with participation from DMJ Asia Investment Opportunity and Wonderful Stars, a subsidiary of FIH Mobile,” HMD Global said in a statement.

With the latest round of funding, HMD Global’s market valuation exceeds $1 billion, giving it a unicorn status, it added. “In 2018, the company plans to aggressively expand its portfolio of Nokia smartphones and double down on expanding channel reach in strategic markets, while continuing to deliver innovation where it matters most to consumers,” it said.


Set up in December 2016, HMD shipped more than 70 million Nokia-branded phones in its first year. It has scaled sales operations in over 80 countries.