Jolla, the Finnish android developer of open mobile operating system Sailfish OS, announced that it has secured new Series C financing round worth USD $12 million. The company said that it has also been able to reach an agreement with its main creditors and has canceled its debt restructuring application in Finland.
Jolla said that the investment will enable the company to advance the Sailfish OS licensing business further and will enable the company to continue further the Sailfish OS development work. Jolla will also be recruiting new software developers to strengthen its product development for new and upcoming projects.
Antti Saarnio, Chairman of the Board, Jolla
After our financial challenges atthe end of last year, we are now on a strong path out of our third start-up death valley. Through good negotiations and positive support from our main creditors we have found away to avoid the formal and heavy debt restructuring procedure in Finland, for the benefitof all parties involved.
