HMD Global | Pixr8 News

26May By Sheldan RungasamyNo Comments

FUNDING

Funding News of the Last Week (May 21st – 26th 2018)

This week witness a lot of funding rounds, 14 to be precise for a total amount of around $130 Million. HDM Global was the company which received most funding with $100 Mn, while Bonphul Air Product and Rocketium raised the least funds with $300K funding. Below is a recap of all the funding news that happened this week : LifeSight LifeSight, an artificial intelligence-powered location intelligence platform based in Singapore, recently raised $2 million in a pre-Series A funding round led by shareholders of Provident Capital Partners, an investment firm based in Indonesia. The funds raised will be used to grow its engineering and data science abilities at its Bengaluru development centre as well as expand operations in other Asian markets in the next couple of yea...

HMD Global Bags “Unicorn Status” Post $100 Mn Funding

HMD Globals, the Finnish company that manufactures Nokia smartphones and feature phones has been successful in raising $100 million from investors to scale up its business operations and fund its growth. The latest funding has put HMD grab the "unicorn status" with a current market valuation of exceeding $1 billion. The round of investment was led by Geneva-based Ginko Ventures via Alpha Ginko Ltd. with participation from DMJ Asia Investment Opportunity and Wonderful Stars which is a subsidiary of FIH Mobile Ltd. Florian Seiche, CEO, HMD Global, said in a statement on Monday, We are thrilled to have these investors join us in our journey to script the next chapter of Nokia phones. It is our ambition to deliver great smartphones that delight our fans while staying true to o...

Nokia-Maker HMD Global Intents to Make Components in India

Often recognized as Nokia Maker in international Market, Finnish company HMD Global is working diligently on making its own components in the country, as reported by a senior company official. Ajey Mehta, Vice-President, HMD Global told in his media interaction, We are treading on a path of phase manufacturing programme.We have already begun our conversations with our partner Foxconn to manufacture our own components in the country. It will happen in some time. We might be a little behind our time, but eventually, components that attract import duty will be manufactured here. The Indian Government has come with a 10 percent duty on import of key components like printed circuit board assembly and camera module to encourage domestic manufacturing in the country. HMD Global is al...