Nothing Said to Raise Funding, Crosses $1 Billion in Lifetime Sales
Nothing, a smartphone maker backed by Google’s venture arm and iPod creator Tony Fadell, is seeking to raise at least $100 million (roughly Rs, 864 crore) in funding to expand its operations, according to people with knowledge of the matter. The London-based startup, which launched in 2021 to fanfare from technology enthusiasts, kicked off the Series C round in recent days, said the people, who asked not to be identified because the plans haven’t been announced. Several newcomers have tried to challenge Apple Inc.’s iPhone with new devices, but few outside of China have come close to rivaling the well-capitalised market leaders. Nothing previously raised about $100 million (roughly Rs, 864 crore) in 2023. Nothing has gained fans with the unique design of its smartphones, which feature a transparent back. The startup is run by Carl Pei, one of the creators of OnePlus, a popular China-based phone maker. Nothing sells phones ranging from $250 (roughly Rs.21,625) to $700 (roughly Rs. 60,551), as well as several different earbuds and a smartwatch. In 2024, Nothing doubled its annual …