Consumer technology company Nothing, founded by OnePlus co-founder Carl Pei, announced that it has completed a Series A extension of $50M (approx €43M) from strategic and private investors.
The latest funding announcement comes after raising $15M (approx €13M) in a Series A round in February.
Nothing wants to remove barriers between people and technology by designing intuitive and smart tech that improves lives without getting in the way of it.
The London-based startup didn’t reveal the names of any investors but few reports suggest that Swedish House Mafia members Axel Christofer Hedfors and Sebastian Ingrosso are among the investors who participated in the financing round.
To date, Nothing has raised $74M (approx €64M) in funding. The company is backed by various investors, including GV, formerly Google Ventures, and other private investors like Tony Fadell, Principal at Future Shape and inventor of the iPod, Casey Neistat, YouTube personality and Co-founder of Beme, Kevin Lin, Co-founder of Twitch, and Steve Huffman, Co-founder and CEO of Reddit.
Carl Pei, CEO, and co-founder of Nothing says, “Seamless connectivity is paramount to achieving our vision of a future without barriers between people and technology. We look forward to working alongside Qualcomm Technologies and our strategic investors to achieve Nothing’s next phase of growth.”
Nothing will use the funds towards R&D as it looks to expand its portfolio with new product categories as part of its ecosystem.
Partnership with Qualcomm
As a part of this plan, the company has partnered with Qualcomm Technologies and its Snapdragon platform to power future tech products.
“We are excited to help Nothing bring to life its highly anticipated ecosystem of tech products,” says Enrico Salvatori, senior vice-president and president, Qualcomm Europe/MEA, Qualcomm Europe, Inc.
“By combining the power and efficiency of Snapdragon mobile platforms with 5G connectivity across many different categories of devices, we are fostering the development of innovative products that are intended to benefit consumers and deliver richer, more immersive experiences,” he added.
Smartphone coming soon
According to a report, Nothing is working on its first smartphone and will launch by early 2022. In February, Nothing acquired Andy Rubin’s Essential company, which launched ‘Phone 1’ in 2017.
Additionally, Nothing is also working on a power bank purportedly called Nothing Power (1). The company expects to launch the power bank within this year, says the report.
Nothing launched ear (1) in August 2021 and, within two months, shipped over 100,000 units.