May 4, 2016

Jolla secures its future operations with EUR 10 million financing

The new financing enables Jolla to continue developing its open operating system Sailfish OS and advance its licensing business further.
The new financing enables Jolla to continue developing its open operating system Sailfish OS and advance its licensing business further.
Jolla

Jolla, Finnish mobile technology company and developer of open mobile operating system Sailfish OS, has raised in total 10 million euros in funding from international investors.

Powered by the new investments, Jolla will focus on further developing its main asset, Sailfish OS, and extend its licensing partnerships. The company also cancelled its debt restructuring application in Finland.

“This investment is sufficient to run our operations until the end of this year,” says Antti Saarnio, chairman of the Board. “We are also in the planning phase for our further financing rounds.”

Jolla was quiet about the origins of the new investors but disclosed to the Finnish daily newspaper Helsingin Sanomat that the funding came from abroad and there were Russian investors involved.

The company is now recruiting new software developers to strengthen its product development for new and upcoming projects.

Currently Jolla has two significant licensing projects. The project with the Indian Intex Technologies is in the final phase, and Intex’s smartphone is set to enter the Indian market during the coming months. In addition, Jolla has a Sailfish OS licensing agreement with US-based Turing Robotics Industries and is developing software for the upcoming Turing smartphone.

Jolla is also preparing a new special community programme which will be announced in the near future.

Jolla was born in 2011 out of the passion of its founders towards open innovations in the mobile space, continuing the heritage of Nokia and MeeGo. The company has developed the open mobile operating system Sailfish OS. The Jolla Smartphone has been available in Europe, Hong Kong, India and Russia.

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