Nothing Raises $200 Million in Series C Funding, Plans to Launch AI-Focused Devices

Highlights

• Nothing said these AI devices will complement smartphones
• The company’s $200 million funding round was led by Tiger Global
• Nothing raised funds at the valuation of $1.3 billion

Nothing announced on Tuesday that it secured $200 million (roughly Rs. 1,760 crore) in its Series C funding round. Tiger Global and several other investors led the company's latest round, taking its total funding raised to $450 million (roughly Rs. 3,960 crore). The UK-based consumer tech brand also highlighted that it is now planning to launch multiple artificial intelligence (AI) devices next year. Without sharing any details, the brand hinted that these products will complement smartphones, and not compete with them.

Nothing Shares Its AI Vision

In a press release, Nothing CEO Carl Pei announced that its Series C funding round has now closed, and it has secured $200 million (roughly Rs. 1,760 crore) at a valuation of $1.3 billion (roughly Rs. 11,444 crore). Apart from Tiger Global, the round also witnessed participation from existing investors such as GV, Highland Europe, EQT, Latitude, I2BF, and Tapestry.

Nothing also announced new strategic backing from Zerodha Co-Founder and Chief Financial Officer Nikhil Kamath, as well as Qualcomm Ventures. Their roles were not detailed by the tech brand. The company said it plans to use the funds to build an AI-native platform that combines hardware and software into a ‘single intelligent system.”

Pei said in the future, operating systems will use AI capabilities to become hyper-personalised to each user, and interfaces will adapt to their context and needs. Aiming to build an ecosystem-wide OS, he added that in the future, the company will incorporate the system into smart glasses, humanoid robots, and electric vehicles (EVs).

The Nothing CEO's vision of a traversal OS comes from the belief that consumers in the future will use smartphones alongside other AI devices that will hold similar importance. “The smartphone, while powerful, can't always be there for us. Sometimes it's in our pocket, or we might be on the move with our hands full,” he added.

Focusing on the same, Pei announced that next year, Nothing will launch some of its first AI-native devices. While he did not name the devices or provide a launch timeline, he highlighted that these devices will complement smartphones and will be available to the user at their moment of need. These devices will also be able to capture context across different modalities and “generate interfaces on demand” based on what the user is trying to do.