KaiOS Technologies, the maker of an operating system for 'smart' feature phones, has raised another USD 50 million in a series B round of financing. The round was led by Cathay Innovation, with continued participation from existing shareholders Google and TCL Holdings.
The fresh capital comes as the company is ramping up the roll-out of its software to more new phone models in multiple countries around the world. KaiOS said over 100 million devices running on KaiOS have been shipped in over 100 countries.
The company said it plans to use the new funding to expand into new markets, and to invest in product portfolio research and development. It will also enable Kai to mature its ecosystem by accelerating the growth of the KaiOS developer community.
Its software targets the many first-time smartphone users in the world, who seek an easier transition to the mobile internet. KaiOS already has agreements with operators such as Reliance Jio, Orange and MTN to target their developing markets. The company said the smart feature phone market is expected to be worth USD 28 billion over the next three years, according to a recent Counterpoint study, and the devices already accounted for nearly a quarter of all handset shipments in Q3 last year.
