Nothing, a smartphone startup led by Carl Pei, has just raised $200 million Series C funding from Tiger Global at a new $1.3 billion valuation. The company says it will use this money to build an AI-first device for launch next year.
Funding and Investors
The investment round was led by Tiger Global, with contributions from GV, Highland Europe, EQT, Latitude, I2BF, Tapestry, Nikhil Kamath, and Qualcomm Ventures. With this, Nothing’s total funding is now over $450 million. The brand has also announced plans for a new community funding round after earlier rounds brought in $11.5 million.
Nothing’s Growth
Nothing is known for its stylish, transparent design and unique software features. It has sold over $1 billion worth of products so far and shipped 5.1 million units globally, with India being its largest market where it holds a 2% share. While the brand’s global market share is under 1%, about 80% of its products are sold in Asia.
AI Vision and Next Steps
The company plans to launch devices with systems designed around AI and personalization. It has started hiring new talent for its AI services, aiming to make AI a central part of its operating system and user experience.
Carl Pei believes smartphones will remain the main way people use AI for at least the next three to five years. However, building a helpful and trustworthy AI experience is still challenging, as seen with other brands struggling to integrate AI into their products.
What’s Next?
Nothing will use some of its new funds to develop and launch a new device focused on AI in 2026. With its emphasis on design and technology, the company hopes to appeal to the next generation of tech users who want both creativity and useful features.