Nothing raises $200M at $1.3B valuation, Nikhil Kamath new investor
What's the story
London-based smartphone maker Nothing has raised $200 million in a Series C funding round, valuing the company at $1.3 billion. The investment was led by Tiger Global and included participation from existing investors such as GV, Highland Europe, EQT, Latitude, I2BF, and Tapestry. New investors include Qualcomm Ventures and tech billionaire Nikhil Kamath, co-founder of trading platform Zerodha. The company last raised close to $100 million in 2023.
Strategic focus
Funding to accelerate development of AI-native platform
The fresh capital will be used to develop an AI-native platform, where hardware and software come together into a highly personalized and context-aware operating system. This is part of Nothing's plan to redefine consumer tech. The company has already shipped millions of devices and crossed $1 billion in cumulative sales.
Expansion plans
Nothing's AI platform will start with consumer devices
Nothing plans to leverage its strong global distribution and last-mile user insights to create hyper-personalized AI-driven experiences. "For AI to reach its full potential, consumer hardware must reinvent itself alongside it," Pei said in a statement. "We are starting with smartphones, audio products and smart watches ... in the future, our operating system will carry into smart glasses, humanoid robots, EVs, and whatever comes next."