Tech company Nothing Secures $200 Million Investment at a $1.3 Billion Valuation to Advance AI Technology Focus
In a significant move, London-based tech startup Nothing has secured a $200 million investment led by Tiger Global. This funding round values the company at over $1.3 billion, marking a substantial increase from its initial funding round of close to $100 million in 2023.
Founded by Swedish tech entrepreneur Carl Pei in 2020, Nothing has already made a splash in the tech market. The company, which operates in a market dominated by Apple, Samsung, and a few European companies like Fairphone and HMD Global, launched its first smartphone in 2022 and has also entered the earbuds market. In addition to these products, Nothing has also launched other devices, indicating a diversified product portfolio.
Pei, in a statement, expressed his belief that AI needs consumer hardware to reinvent itself. This belief is reflected in Nothing's plans to expand into various future technologies, including smart watches, smart glasses, humanoid robots, EVs, and more.
The funding round saw participation from existing shareholders GV, Highland Europe, EQT, Latitude, I2BF, and Tapestry, as well as the investor group led by Tiger Global. This investment brings the total investment in Nothing to over $300 million.
Nothing's operations are not limited to a specific geographical region, indicating an international presence and potential for global growth. The company, with its headquarters in London, has already shipped millions of devices and crossed $1 billion in total sales.
This funding round is a testament to the potential of Nothing and its ambitious plans. With the resources provided by this investment, Nothing is well-positioned to compete in the emerging markets of smart watches, smart glasses, humanoid robots, EVs, and more.
As Nothing continues to grow and expand, it will be interesting to see how it challenges the established players in the tech market. Stay tuned for more updates on this exciting startup.
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