Consumer electronics startup Nothing, located in London, has secured $200 million in a Series C funding round, achieving a valuation of $1.3 billion as it seeks to grow from smartphones into an extensive range of AI-powered devices.

Tiger Global led the funding round, which included participation from GV, Highland Europe, EQT, Latitude, I2BF, Tapestry, Zerodha's Nikhil Kamath, and Qualcomm Ventures.

“This milestone signifies the beginning of our next chapter: Transitioning from the sole independent smartphone maker to developing an AI-driven platform where hardware and software integrate into one cohesive intelligent system,” stated Nothing CEO and Co-founder Carl Pei.

As per the announcement, Nothing surpassed $1 billion in total sales earlier this year, after delivering millions of devices and increasing its revenue by 150 percent in 2024.

Nothing intends to develop an operating system that is “hyper-personalized for each person,” Pei stated, claiming that smartphones will continue to be vital to computing but need to progress alongside artificial intelligence.

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“Unlike the uniform solution of today, a billion distinct operating systems will be created for a billion unique individuals,” he stated.

The firm plans to introduce its initial AI-native devices next year, broadening its range beyond smartphones, earbuds, and smartwatches to include new categories like smart glasses and robotics. In addition to the Series C, Nothing is also planning a new community fundraising round to allow retail backers an opportunity to invest.

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Founded by ex-OnePlus Co-founder Carl Pei, Nothing seeks to reinvigorate technology by making it “fun again,” disrupting the dullness of conventional device design with imaginative and playful product ideas.

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The company is known for its robust branding, limited bloatware, and a loyal fanbase centered on design and user experience.

In the second quarter of 2025, Nothing achieved a 146 percent year-over-year increase in smartphone shipments in India, establishing it as the quickest-growing smartphone brand in the nation for the sixth straight quarter, according to Counterpoint Research