Nothing, a London-based technology company founded by OnePlus co-founder Carl Pei, announced that it has raised $70M (€63.4M) in a Series B funding round.
The round was co-led by EQT Ventures and C Ventures, with participation from GV, Tony Fadell’s Future Shape, Gaorong Capital, and Animoca Brands. Nothing has raised around $144M (€130M) to date, including $1.5M (€1.35M) from its first community investment round.
The funds will enable Nothing to develop new product categories in partnership with Qualcomm Technologies and its Snapdragon platform. The capital will also be used to grow operations at its new London Design Hub, led by ex-Dyson Head of Design Adam Bates.
“With this round of financing, we have the fuel to realise the next phase of our vision of a seamless digital future,” says Carl Pei, Nothing CEO and Co-founder.
“I’m grateful for the support from our community and investors. Our first year was a warmup, and we can’t wait to reveal what we’re building at Nothing during the upcoming event,” he adds.
Nothing has scheduled an event – Nothing (event): The Truth, on 23 March 2022 at 14:00 GMT to announce its 2022 roadmap, including a new community investment round.
Nothing: What you need to know
Founded by Carl Pei, Nothing is a consumer tech company that aims to build a world without barriers between people and technology. The company made its debut into the tech world with its first TWS ear (1). As per the company’s claims, it has shipped over 40,000 units to date.
Nothing is a privately held company with backing from GV (formerly Google Ventures), EQT Ventures, C Ventures, and other private investors including Tony Fadell (Principal at Future Shape & 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).
EQT Ventures: What you need to know
EQT Ventures is a multi-stage VC fund that partners with the most ambitious and boldest founders in Europe and the US. The fund is based in Luxembourg and has investment advisors stationed in Stockholm, Amsterdam, London, San Francisco, Berlin, and Paris.
“We’re delighted to be backing Nothing in this new funding round. For too long, the consumer tech industry has been dominated by the same players, offering customers uninspiring and staid products. Nothing represents a bright, new future – combining innovative design with carbon-neutrality and a forward-thinking approach to help us all re-imagine how we use and interact with our tech,’ says Ted Persson, Partner at EQT Ventures.
C Ventures: What you need to know
C Ventures is a venture capital company with a focus on disruptive businesses in the technology and consumer sectors. Other recent investments by C Ventures include Casetify (DTC electronics accessory brand ), Animoca Brands, RTFKT Studios, well known for its NFT sneakers; Matrixport, Sensetime, and XPeng, etc.
“We are proud to back a young entrepreneur like Carl, who shares our vision of engaging next-generation customers with an artistic approach,” says Adrian Cheng, C Ventures Founder, and CEO of New World Development.
“We are excited to support Nothing’s mission to break the hegemony of consumer tech giants and embark on an ambitious journey to challenge the status quo,” he adds.