Borqs secures USD 17.4 million in VC funding led by Norwest Ventures

Borqs a mobile application software provider has closed USD 17.4 million series B.

What is the funding for?

Borqs develops mobile software for Android.
 
The company IP and software enable phone manufacturers or mobile operators to launch Android-based 3G solutions in less than six months. 
 
From the press release:
 
“As the mobile sector continues to evolve and is now the number one source for information and entertainment, wireless carriers must provide their subscribers with the best choice in applications and handset offerings and to do so at a low cost point. By building on the foundation of Google’s Android platform, Borqs can deliver carriers with a solution that meets these needs while providing a unique and consistent brand experience for their subscribers,” said Mohan Kumar. “The experienced team at Borqs, combined with the company’s strong product offerings, proven track record, early customer wins and significant traction with the world’s largest carrier China Mobile and other operators, were key factors in our investment decision.”
 
“We are very pleased to have NVP lead this funding round for Borqs,” said Pat Chan, CEO and president of Borqs. “NVP brings to Borqs a compelling mix of deep industry knowledge in the mobile industry, relevant operational experience and a strong network of contacts that will help grow the company as we expand the Borqs footprint worldwide. We look forward to partnering with NVP to drive customer momentum, accelerate our growth and take the company to the next level.”
 
What we think?

Time and cost to market are vital for operators and manufacturers. Borqs seems to offer Android services at speed and due to its open source platform it should be cheaper cost to market.