Smartphone platform start-up Jolla secured new financing to support its operations, following a troubled end to last year.
The company has raised $12 million since December, and is “now ready to extend its licensing business”. It has also entered into an agreement with its main creditors, and cancelled a debt restructuring application in Finland.
Jolla revealed its financing woes in November 2015, which included layoffs, as it looked to move “from a development phase into a growth phase”. In December, it said it had raised some cash to keep the lights on as it looked to new licensing deals.
It now said it is “recruiting new software developers to strengthen its product development for new and upcoming products”. It has also promised a new “special community programme”, which will be announced in the near future.
Antti Saarnio, chairman, said: “This investment is sufficient to run our operations until the end of this year. We are also in the planning phase for our further financing rounds. Now we can put all the focus on further improving our main asset, Sailfish OS.”
Jolla said that so far this year, it has been “working rigorously” on Sailfish licensing products, including the final phase of its work with Intex which will see the Aqua Fish device launched in India “during the coming months”.
It is also working with Turing Robotics Industries on a secure smartphone.
Earlier this year, the company revealed work with African smartphone player MiFone and “ethical smartphone” start-up Fairphone, although neither were referenced now.
Finally, the company gave an update on its tablet woes, after previously revealing it would not be able to meet all orders.
It has now shipped “nearly all available tablets” to customers, and is “proceeding with speed” to fulfil its promised refunds to those it cannot supply.
Refunds are taking place in two rounds “due to financial constraints”. Half the refund will be paid now, with the rest to follow “within a year of round one – depending on Jolla’s financial status”.