Carl Pei’s Nothing becomes unicorn after raising $200M at $1.3B valuation, aims to reinvent smartphones with AI OS

London-based Nothing, the independent consumer technology company, today has secured $200M (approximately €170M) in a Series C funding round at $1.3B valuation.

The round was led by Tiger Global, with strong participation from existing investors GV, Highland Europe, EQT, Latitude, I2BF, and Tapestry, alongside new backing from Nikhil Kamath and Qualcomm Ventures.

In addition to institutional investment, Nothing is preparing to launch its next Community round, allowing supporters to participate in the company’s growth story.

Details will be announced in the coming weeks, says the company.

Fund utilisation

The company will use the funds to focus on building an AI operating system designed to be hyper-personalised, contextual, and adaptive.

“A billion different operating systems for a billion different people. And because an AI OS that doesn’t know its user can’t deliver, owning the last-mile smartphone distribution point makes us uniquely positioned to build this future,” says Carl Pei, Founder and CEO of Nothing.

Nothing plans to launch its first AI-native devices in 2026, expanding its ecosystem beyond existing smartphones, audio, and wearables.

“We see a future where operating systems are significantly different from those of today. Each system will know its user deeply, and be hyper-personalised to each individual. Interfaces will adapt to our context and needs. Suggestions will surface naturally, and once we confirm an intent, agents will execute on our behalf,” he adds.  

Nothing: Scaled rapidly since launch

Founded in 2021 by ex-OnePlus co-founder Carl Pei, Nothing is the first independent consumer technology company.

The company has so far launched various gadgets, including smartphones, TWS, and headphones.

The company is backed by GV (Google Ventures), EQT Ventures, C Ventures, and influential investors like Tony Fadell (iPod), Casey Neistat, and Kevin Lin (Twitch).