Tech company Nothing secures $200 million funding, valuing the business at $1.3 billion, as they intensify their efforts in artificial intelligence.
London-Based Smartphone Maker Nothing Raises $100 Million and Becomes a Unicorn
In an exciting development for the technology industry, London-based smartphone company Nothing has raised nearly $100 million in its latest funding round, valuing the company at over $1 billion. This makes Nothing a unicorn, joining the exclusive club of privately held startups valued at over $1 billion.
Founded in 2020 by Swedish tech entrepreneur Carl Pei, who previously worked at mobile maker OnePlus, Nothing has already made a significant impact in the global stock market, which is currently dominated by Apple and Samsung. Despite this, Nothing has managed to carve out a niche for itself, shipping millions of devices and crossing $1 billion in total sales.
The company's first smartphone was launched in 2022, and it has also ventured into the market for earbuds. Nothing plans to expand its product line even further, with plans to release smart watches, smart glasses, humanoid robots, electric vehicles (EVs), and future products.
Carl Pei, the founder and CEO of Nothing, believes that for AI to reach its full potential, consumer hardware must reinvent itself alongside it. He is committed to this vision, and it is clear that Nothing is on a mission to push the boundaries of what is possible in the world of consumer technology.
Existing shareholders GV, Highland Europe, EQT, Latitude, I2BF, and Tapestry participated in the latest funding round, joining Tiger Global, who led a $200 million investment in Nothing at a valuation of $1.3 billion. With this new funding, Nothing is well-positioned to continue its growth and innovation in the years to come.
As Nothing continues to expand its product line and push the boundaries of what is possible in consumer technology, it will be interesting to see how it fares in the competitive global stock market today. One thing is for sure: Nothing is a company to watch in the years ahead.
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