Nothing, the London-based smartphone startup known for its transparent phone design, is looking to raise at least $100 million in a new funding round, according to Bloomberg. This Series C funding comes after the company previously raised around $100 million in 2023.
The company, co-founded by Carl Pei, a former OnePlus co-founder, is renowned for its unique design approach across its product lineup, including smartphones, earbuds, and smartwatches.
As a result, Nothing’s devices have been well-received in the global market. Currently, India is Nothing’s largest smartphone market, followed by Germany and the UK. Interestingly, the trend is reversed for their audio products, with the US being their top market, followed by the UK, Germany, and Japan.
In 2024, the company reportedly doubled its annual revenue to over $500 million and surpassed $1 billion in lifetime sales. They also informed investors of improved profit margins and over 7 million units sold across all product categories.
Upcoming Nothing products
Nothing is currently gearing up for the launch of its flagship Phone (3) smartphone. While details about the device remain limited, a leaked email from the company’s co-founder, Carl Pei, reveals plans to launch the smartphone with “breakthrough innovations in user interface, taking our first step toward our AI-powered platform.”
Pei also teased that in Q1, the company has a “landmark smartphone launch that the world will be very excited to see.” Although details are under wraps, this could potentially be a smartphone from its sub-brand CMF.
Bloomberg’s report adds that the company is reportedly prioritizing international sales growth outside the US in 2025, with a more focused push into the American market planned for 2026. Additionally, Nothing is exploring venturing into new product categories beyond smartphones, earbuds, and smartwatches.
Don’t miss a thing! Join our Telegram community for instant updates and grab our free daily newsletter for the best tech stories! 🚀
(Source)
Comments