Nothing secures $96 million in funding in their latest fundraising round
Over the years, we’ve seen many companies try to enter the mobile space and failed. Even massive tech giants like Microsoft didn’t have much luck with their Windows Phone platform, despite acquiring Nokia’s phone business where they ultimately had to bow out and eventually transition to Android.
That being said, it looks like Nothing seems to be the exception. The company has announced that in their latest round of fundraising, they have managed to raise a whopping $96 million. This money was raised with participation from companies like Google Ventures, EQT Ventures, C Capital, and interestingly enough, Swedish House Mafia, who for those unfamiliar is a music group specializing in the house genre.
Nothing was co-founded a few years ago by Carl Pei, whom some of you might be familiar with as being the co-founder of OnePlus. The company was founded after Pei left the company where their first product was a set of true wireless earbuds. They later expanded to other products like the Nothing Phone (1), and soon the company is expected to announce the Nothing Phone (2).
According to Pei:
“In just over two years, we’ve assembled one of the strongest teams in the industry and sold over 1.5 million devices worldwide. It’s clear that there’s real demand for an innovative challenger in the consumer tech industry, and with this new round of financing, we’ve never been better positioned to realize our vision to make tech fun again.”
It remains to be seen if Nothing has what it takes to become a mainstay in the smartphone market, especially since they only have one device to their name to date, but so far it’s looking pretty promising.