HMD Global raises $200m funding from Google, Nokia, Qualcomm

HMD GLOBAL, THE HOME of Nokia phones, has announced it has successfully closed $230 million in the first closing of its current funding round from some of its top global strategic partners.

HMD Global’s funding will help accelerate its growth plans. It was learnt that Google, Qualcomm and Nokia Technologies were among its investors.

As well as establishing itself as a leading feature phone manufacturer by value, the company has been successful in clearly differentiating its Android smartphone offering. Nokia smartphones come with premium Nordic design that is inspired by the company’s European heritage, superior product quality, premium ZEISS imaging experience, and market-leading reliability, as well as security features including a three-year monthly security update promise and 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 upto-date smartphone experience. The investment will further fuel HMD Global’s strategic vision in four key areas, the company has said.

According to Jean-Francois Baril, its executive chairman and co-founder, 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.

He added that apart from this, HMD Global will further transition to digital-first offerings as part of a new postCOVID reality.