London-based consumer electronics startup Nothing has raised $200 million in a Series C round, valuing the company at $1.3 billion as it aims to expand from smartphones into a broader lineup of AI-driven devices.
The funding round was led by Tiger Global, with participation from GV, Highland Europe, EQT, Latitude, I2BF, Tapestry, Nikhil Kamath of Zerodha, and Qualcomm Ventures, the company said in a statement Tuesday.
“This milestone marks the start of our next phase: From being the only independent smartphone company to emerge in the last decade, towards building an AI-native platform in which hardware and software converge into a single intelligent system,” said Nothing CEO and Co-founder Carl Pei.
According to the statement, Nothing crossed $1 billion in cumulative sales earlier this year, after shipping millions of devices and growing its revenue 150% in 2024.
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Nothing plans to build an operating system that is “hyper-personalised to each individual,” Pei said, arguing that smartphones will remain central to computing but must evolve alongside artificial intelligence.
“Unlike today’s one-size-fits-all solution, a billion different operating systems will be rendered for a billion different people,” he said.
The company aims to launch its first AI-native devices next year, expanding beyond smartphones, earbuds and smartwatches into emerging categories such as smart glasses and robotics.
Alongside the Series C, Nothing is also preparing a new community funding round to give retail supporters a chance to invest.
Founded by former OnePlus Co-founder Carl Pei, Nothing aims to make tech “fun again,” breaking the monotony of traditional device design with playful and creative product concepts. The company is recognised for its strong branding, minimal bloatware, and a dedicated following around design and user interface.
In the second quarter of 2025, Nothing recorded a 146% annual growth in smartphone shipments in India, making it the fastest-growing smartphone brand in the country for the sixth consecutive quarter, according to Counterpoint Research.
Edited by Suman Singh
