London-based consumer technology company Nothing announced it has completed a Series A extension of $50 million from strategic and private investors.
The company, founded by former OnePlus co-founder Carl Pei, announced a collaboration with Qualcomm Technologies Inc. Nothing will leverage Qualcomm’s Snapdragon platform for future tech products, it said.
The funding will be used for R&D to enter new product categories.
Pei, CEO and co-founder of Nothing, said, “The successful launch of our first product, ear (1), proved there is room for a new challenger brand to emerge and disrupt today’s sea of sameness. Users deserve better products that are simpler to use, accessible, yet look amazing. Seamless connectivity is paramount to achieving our vision of a future without barriers between people and technology. We look forward to working alongside Qualcomm Technologies and our strategic investors to achieve Nothing’s next phase of growth.”
“We are excited to help Nothing bring to life its highly anticipated ecosystem of tech products,” said Enrico Salvatori, senior vice-president and president, Qualcomm Europe/MEA, Qualcomm Europe, Inc.
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“By combining the power and efficiency of Snapdragon mobile platforms with 5G connectivity across many different categories of devices, we are fostering the development of innovative products that are intended to benefit consumers and deliver richer, more immersive experiences,” Salvatori added.
After his exit from OnePlus in October 2020, Pei had launched his consumer technology company in January.
In February it raised $15 million in a Series A round led by GV (formerly Google Ventures), leading to an overall funding of $22 million.
Pei had previously raised $7 million in seed financing from tech leaders and investors such as Tony Fadell, Casey Neistat, Kevin Lin, Steve Huffman and Josh Buckley. The venture is also backed by Indian entrepreneur and founder of CRED, Kunal Shah.
Nothing launched its first product, a true wireless stereo or TWS device called ear (1), in August 2021 and, within two months, shipped over 100,000 units. It announced its entry into India in partnership with the country’s homegrown e-commerce marketplace Flipkart earlier this year.