JUN 28 2023
London-based smartphone maker Nothing has successfully raised $96 million in a recent funding round led by European venture capital firm Highland Europe. The investment will be instrumental in Nothing’s upcoming expansion into the United States and the highly anticipated launch of its latest smartphone, the Phone 2. Nothing, founded by Carl Pei, co-founder of OnePlus, has quickly gained recognition for its innovative products in the audio and smartphone markets. With a commitment to minimalist design and cutting-edge technology, the company has garnered a substantial following since its inception.
The investment round saw the participation of prominent investors, including GV, EQT Ventures, and C Capital, as well as the renowned house music supergroup, Swedish House Mafia. This infusion of capital will provide Nothing with the necessary resources to scale its operations, increase production capabilities, and bolster sales. Tony Zappala, a partner at Highland Europe, played a significant role in spearheading the funding round and will now join Nothing’s board, further strengthening the company’s leadership and strategic direction.
Since its establishment, Nothing has successfully launched three products: the Ear 1, Ear 2, and Ear Stick wireless earbuds, as well as the Nothing Phone, its inaugural smartphone. These products have been met with critical acclaim, demonstrating Nothing’s commitment to delivering exceptional user experiences. Building on its previous successes, Nothing is poised to unveil its latest smartphone offering, the Phone 2, on July 11. The device will feature a processor from the renowned U.S.-based semiconductor giant, Qualcomm, further enhancing its performance and capabilities. The Phone 2 is eagerly anticipated by tech enthusiasts and consumers alike.
The infusion of $96 million in funding will facilitate Nothing’s strategic entry into the highly competitive U.S. market, where it will find itself in direct competition with industry heavyweight, Apple. Carl Pei first revealed plans to expand into the U.S. market in December 2022, and with this latest investment, Nothing is well-positioned to make a strong impact. By expanding its operations and increasing its product offerings, Nothing aims to meet the growing demand for its high-quality, design-centric devices. With over 1.5 million products already launched, the company is primed to reach even greater heights.
The investment not only signifies confidence in Nothing’s vision and potential but also demonstrates the enthusiasm of investors in supporting disruptive and innovative startups. With a clear focus on delivering groundbreaking technology and user-centric products, Nothing is poised to make a significant impact in the global tech industry. As July 11 approaches, anticipation continues to build for the release of the Phone 2, marking another milestone for Nothing and solidifying its position as a formidable player in the hardware market. The company’s expansion into the U.S. market is expected to bring fresh competition, pushing boundaries and driving innovation in the smartphone industry.
