"Smartphone startup Nothing announced today that it closed its Series C round of $200 million, which was led by the investment firm Tiger Global. With this round, the consumer electronics company is now valued at $1.3 billion. Other investors in the round included existing backers such as venture outfits GV, Highland Europe, EQT, Latitude, I2BF, and Tapestry. The company, founded by Carl Pei - who previously co-founded Chinese smartphone maker OnePlus, known for high-performance devices at competitive prices - also received new strategic backing from Nikhil Kamath and Qualcomm Ventures."
"Carl and the team at Nothing are reimagining hardware and software with an AI overlay to position their products for the next era of personal technology. We're excited to partner with this exceptional team as they pioneer AI-native experiences, said Matt Watcher, a partner at Tiger Global, in a statement to TechCrunch. The company has bet on design differentiation so far, and it has served the startup well. Nothing says it clocked in over $1 billion in total sales earlier this year. An early investor in the startup told TechCrunch that they are happy with the company's growth trajectory and road to profitability."
Nothing closed a $200 million Series C round led by Tiger Global at a $1.3 billion valuation, taking total funding past $450 million. Existing investors including GV, Highland Europe, EQT, Latitude, I2BF, and Tapestry participated, alongside new strategic backers Nikhil Kamath and Qualcomm Ventures. The company was founded by Carl Pei and emphasizes design differentiation and an AI overlay across hardware and software. Nothing reported over $1 billion in total sales earlier this year and has built supply chain and infrastructure to launch products within months and ship worldwide. Phone (3) demonstrates the transparent design aesthetic and received general U.S. distribution.
Read at TechCrunch
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