Led by Highland Europe, this round brings Nothing's total funding to USD 250 million – just as company crosses 1.5M products sold.
Led by Highland Europe, this round brings Nothing's total funding to USD 250 million – just as company crosses 1.5 million products sold.
Nothing, the consumer technology brand, announces a USD 96 million fundraising round led by Highland Europe, with participation from existing investors GV (Google Ventures), EQT Ventures and C Capital, alongside house music supergroup Swedish House Mafia.
Established in 2020, Nothing is a London-based consumer technology company that works to remove the barriers between people and technology, creating iconic, easy-to-use, seamlessly connected products that help people improve their lives with ease. Carl Pei, the Swedish-Chinese founder of Nothing, was a co-founder of OnePlus（一加）and was responsible for its overseas markets. 2020 saw Pei leave OnePlus to found the consumer technology brand Nothing in London. With over 450 people across seven offices worldwide, Nothing is here to make tech fun again.
Through cutting-edge design, user interface innovation, and community collaboration, the company is creating an ecosystem of tech products for the young and creative. These products are thoughtfully built to contribute to a more sustainable future. In 2022, Nothing's Phone (1) was regarded as one of the most anticipated tech launches in recent times and showcased in Time Magazine's prestigious "Best Inventions of 2022" list for its innovative smartphone design. In 2023, Phone (1) received the renowned Red Dot Design Award, along with the rest of Nothing's current product portfolio, including the true wireless audio devices Ear (2) and Ear (Stick).
Nothing has over 230 channel partners in Western Europe, North America, the Middle East, Japan and Korea, including operators such as Deutsche Telekomand SingTel. Unlike traditional consumer electronics brands, Nothing will have a relative niche presence in overseas trendy luxury channels such as KITH, Selfridges, Lane Crawford, HBX, T-Site, MoMA Design and other trendy retail shops. In December 2022, Nothing lands its official flagship shop in Soho, London, next to Supreme's London flagship shop.
Although Nothing, as a startup, still has some way to go in terms of shipments compared to brands such as Samsung, Apple, and Xiaomi, it has achieved good results in the market segment. According to Canalys, Nothing phones are ranked third in sales in the premium market in Saudi Arabia, behind Apple and Samsung. Nothing is also gaining attention in the Indian market, with sales of over 400,000 units.
In total, Nothing has sold over 1.5 million devices including mobile phones and wireless Bluetooth headsets in the last 2 years, according to Carl Pei. Looking ahead, the company is gearing up to launch Phone (2) on July 11th.