Switzerland-based smartphone manufacturer Sirin Labs has raised $72m in an early-stage round backed by internet company Renren and co-founders Moshe Hogeg and Kenges Rakishev, TechCrunch reported today.
Founded in 2013, Sirin is developing a secure smartphone named Solarin that is based on the Android operating system, and which combines military-grade safety with the features of a consumer device.
Sirin conducts its research and development in Israel and also has offices in Sweden and the US. It is set to unveil the phone at a launch in London next month and expects to sell each device for between $10,000 and $15,000, targeting the executive market.
Hogeg told TechCrunch: “We have a holistic approach, which integrates hardware and software solutions to ensure the best security and encryption. The specifics will be revealed in our product launch event later this year.”
Renren has not commented on its decision to invest in the company. Sirin previously received $25m in seed capital from Hogeg and Rakishev in 2013.