Nothing, a smartphone business based in London, has raised $96 million in a funding round headed by Highland Europe. Nothing’s total capital now stands at $250 million, thanks to participation from current investors like GV (Google Ventures), EQT Ventures, C Capital, including the music group Swedish House Mafia. Nothing intends to expand its product line and invest in technical breakthroughs with the injection of new funding. The investment comes on the heels of the firm selling over 1.5 million goods to date.
“In just over two years, we’ve assembled one of the industry’s strongest teams and sold over 1.5 million devices worldwide,” Nothing CEO and Co-founder Carl Pei, who also co-founded Shenzen-based smartphone firm OnePlus, said. “It’s clear that there’s a real demand for a cutting-edge challenger in the consumer tech industry, and thanks to this new round of financing, we’ve never been better positioned to realise our vision to make tech fun again,” he continued.
“We are thrilled to be partnering with Carl and his team, who embrace our vision of bridging technology across the younger generation,” stated Tony Zappalà, Partner at Highland Europe. Highland Europe is a venture capital fund located in London that invests in quickly developing European internet, mobile, and software firms with annual revenues of more than €10 million.
Highland Europe recently created a €1 billion fund to invest in European-based, early-stage software and consumer internet firms. “We are convinced that Nothing has everything truly unique to offer, combined with an exceptional team.” We are excited to support Nothing as they take on consumer tech behemoths and disrupt the status quo,” Nothing Technology Limite stated.
NOTHING is a consumer electronics company that makes cellphones, earphones, and other digital items. On July 27, 2021, Nothing’s first product “ear (1)” was released. On March 23, 2022, the business also introduced its first smartphone, the Phone (1). According to the firm, it aggressively seeks user ideas through community feedback initiatives and has held two community fundraising rounds with over 8,000 private investors.
Nothing is poised to release its much-awaited Phone (2) on July 11. It is intended to have a lower carbon footprint than its predecessor due to the company’s continuous sustainability initiatives involving the use of recycled metal and polymers.
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