Car Pei’s “Nothing” is starting to make noise. In Series B fundraising, Nothing received $70 million, taking the total raised by Nothing to $144 million.
In a presser, Nothing claimed that the “new funding will go towards scaling its product ecosystem and establishing its London Design Hub.” The funding round was co-led by EQT Ventures and C Ventures. GV, Tony Fadell’s Future Shape, Gaorong Capital and Animoca Brands also participated in the process.
“With this round of financing, we have the fuel to realise the next phase of our vision of a seamless digital future,” Nothing’s CEO and co-founder, Carl Pei said.
Now, Nothing intends to create new product categories in partnership with Qualcomm Technologies and its Snapdragon platform.
I’m excited to share that @nothing has raised $70M in Series B financing led by @eqtventures and @CVenturesfund, with participation from @GVteam and others.
Growing up as a huge tech fan, I’m proud to be contributing to the industry that once inspired me so much. 🧵👇 pic.twitter.com/c4USftiX9c
— Carl Pei (@getpeid) March 9, 2022
The company’s first product – ear (1) – a pair of carbon-neutral true wireless earbuds was released in August, 2021. So far, it has shipped 400,000 units. With Nothing, the OnePlus founder hopes to disrupt the smartphone market.
Why Nothing?
There used to be lots of momentum and optimism around consumer tech. People believed that it would make the world better.
Today, that’s gone. I stopped feeling inspired. Nothing’s ecosystem is here to shake up the status quo and capture people’s imagination again.
— Carl Pei (@getpeid) March 9, 2022
It’s been a journey
When I first started raising money for @nothing in late 2020, @hardi_meybaum told me it would be easier to raise if I didn’t present my deck. Today, this new funding brings our total capital raised to $144M+. 🤓
— Carl Pei (@getpeid) March 9, 2022
“Nothing’s ecosystem is here to shake up the status quo and capture people’s imagination again,” Pei wrote on Twitter, while adding how “in a lot of ways, 2022 is our real founding year.”
Fundraising is not a milestone in itself. Rather, it’s the fuel to carry us into the next phase of growth. And we’re ready. The team, the capital, the partners and the supply chain. It's all in place for what’s to come.
In a lot of ways, 2022 is our real founding year.
— Carl Pei (@getpeid) March 9, 2022
More details about the company’s upcoming projects will be made public at the Nothing (event): The Truth on 23 March 2022 at 7:30 pm IST. ” With 400k+ ear (1) shipped and a record breaking $1.5M community investment round in under a minute, we’re more certain than ever that the market is craving for a change,” Pei additionally wrote on Twitter.
The company is expected to showcase its first Android smartphone and a power bank at the upcoming event.
Source: IndiaTimes
Also Read: Street hawker to model: Meet Internet’s latest sensation, an Indian balloon seller
