Unbiased smartphone maker Nothing has raised $200m (£146.7m) in a Collection C funding spherical that values it at $1.3bn.
Tiger Capital led Nothing’s newest fundraise, together with participation from earlier buyers reminiscent of GV, Highland Europe, EQT, Latitude, I2BF and Tapestry. New backers embody Nikhil Kamath and Qualcomm Ventures.
Nothing beforehand raised $96m in 2023, and though the corporate claims to have bought “thousands and thousands of gadgets” over the previous few years, monetary losses led it to mortgage £30m from Santander final December.
The London-based firm, which is thought for creating reasonably priced telephones with a clear again and a bloat-free working system, will use this funding to gas its international footprint and develop its product lineup.
Specifically, the corporate intends to develop a variety of synthetic intelligence-powered gadgets with software program that anticipates and caters to the person wants of customers. The primary merchandise are set to land in 2026.
Carl Pei, CEO of Nothing, laid out his imaginative and prescient for a future the place “{hardware} and software program converge right into a single clever system”. He claims this might embody working programs able to adapting to the “context and wishes” of their customers, with options that “floor naturally” and AI brokers that carry out actions on behalf of customers.
“Not like as we speak’s one-size-fits-all answer, a billion totally different working programs can be rendered for a billion totally different individuals,” he envisioned.
To start with, Pei mentioned the agency will develop such an working system for smartphones, good watches and audio gadgets. However within the foreseeable future, it’ll be rolled out to merchandise like good glasses, electrical autos and robots.
Along with accelerating its AI product growth, Nothing can also be gearing up for a brand new group spherical that Pei mentioned will give “supporters one other alternative to develop into a part of Nothing’s journey”. Particulars are but to be introduced.
