Nothing
Nothing Raises $200 Million, Valued at $1.3 Billion
London-based tech company Nothing has raised $200 million in fresh funding to expand its presence in the global smartphone market. The funding round values the five-year-old startup at $1.8 billion, giving it more strength to challenge giants like Apple and Samsung.
The new capital will also support Nothing’s plans to develop a new category of AI-driven devices, according to founder and CEO Carl Pei.
Strong Growth Numbers
Pei said that Nothing recorded $500 million in sales in 2024, a 150% increase from the previous year. The company has sold more than 7 million devices so far, including smartphones, earbuds, and headphones.
With this momentum, Pei expects Nothing to reach $1 billion in revenues in 2025. He believes the fundraising was successful because of the company’s strong growth and performance.
Investors Backing the Startup
The latest round is led by Tiger Global, a New York-based tech investor. Other new investors include Qualcomm Ventures and Indian entrepreneur Nikhil Kamath, co-founder of Zerodha.
Existing backers such as Tony Fadell (former Apple designer and Nest founder), Steve Huffman (Reddit co-founder), and GV (Alphabet’s venture capital arm) also continue to support the company.
Market Position
Despite its success, Nothing still holds only a small share of the global smartphone market, which saw 1.22 billion shipments in 2024. However, the brand has built a loyal following with its unique transparent designs, affordable pricing, and appeal to younger, design-conscious consumers.
The Road Ahead
Looking forward, Pei aims to expand Nothing beyond smartphones and audio devices. His vision includes exploring AI-native products, robotics, and even integration with electric vehicles.
“As we interact more with AI, we’ll need new kinds of devices that can give it more data and context,” Pei said. “That will create a new category of devices, though no one knows the exact form factor yet.”
With $200 million in fresh capital and rising sales, Nothing is positioning itself as a bold challenger in the consumer tech industry.