Jolla secures Series C funds, isn’t out of the woods yet

Jolla, the Finnish startup that rose from the ashes of Nokia’s mobile dreams, may have once again beaten the odds. After near bankruptcy and after “temporarily” letting go of half of its workforce, Jolla has happily announced that it has received some much needed monetary infusion thanks to a delayed Series C funding round. But although the company can momentarily breathe a sigh of release, its battle is far from over, with its employment situation, tablet deliveries, and its business future in general still in question.

Jolla isn’t saying how much it received from the funding, partly because it’s just the first of a series of financial packages to be delivered over an also undisclosed period of time. Names aren’t also being given, other than it’s from a group of investors, both old and new. Yes, plural, which could inspire a bit of confidence. The secrecy is also partly to stop speculation on how long the money will last. Jolla chair Antii Saarnio does say that it’s a sizable package that will help stabilize the company’s financial situation and continue its operations. At least in theory.

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https://www.slashgear.com/jolla-secures-series-c-funds-isnt-out-of-the-woods-yet-21419396/

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