Nothing secures $200M funding and shifts to AI native devices
Technology company Nothing has secured USD 200 million in Series C funding, valuing the firm at USD 1.3 billion. The round was led by Tiger Global with participation from existing investors GV, Highland Europe, EQT, Latitude, I2BF, and Tapestry, alongside new support from Qualcomm Ventures and Indian entrepreneur Nikhil Kamath. The capital marks a significant milestone for the London-based company, founded in 2020 by Carl Pei, as it shifts its focus from establishing a foothold in the smartphone industry to building AI-driven hardware and software platforms.
Nothing has positioned itself as one of the few independent smartphone companies to emerge in the last decade. Since launch, the company has delivered several devices across smartphones, audio products, and wearables, achieving rapid global distribution. By early 2025, the company surpassed USD 1 billion in cumulative sales, with growth of 150 percent reported in 2024. The business has also developed a global supply chain, streamlined manufacturing, and a community-driven brand identity that has differentiated it in a highly competitive market.
The new funding is set to accelerate the development of AI-native products, which the company defines as hardware and software designed from the ground up to integrate artificial intelligence at the core of user interactions. Nothing argues that while AI has advanced rapidly in recent years, consumer hardware has not evolved at the same pace, limiting its potential impact. Smartphones, despite being the dominant personal computing device globally, have mostly seen incremental updates focused on features such as cameras and voice assistants.
Nothing’s strategy envisions a future in which operating systems become personalized, proactive, and adaptive to each user’s context. This would mark a departure from current models that provide standardized interfaces for all users. By leveraging its existing smartphone and wearable ecosystem as the foundation, the company aims to extend its AI operating system across emerging product categories including smart glasses, humanoid robotics, and electric vehicles. The integration of user context and data through these devices is expected to enable more intelligent and seamless assistance in everyday tasks.
In the short term, Nothing maintains that smartphones will remain the largest consumer hardware category, with annual shipments in the billions. However, the company is also preparing for the rise of new AI-native form factors that will operate alongside smartphones. These devices are designed to be constantly available and capable of generating interfaces and actions based on immediate user needs. Nothing has indicated plans to introduce its first AI-native devices in 2025, though it has not disclosed specific product details.
The Series C funding will be directed toward scaling this vision, expanding Nothing’s ability to deliver devices at global scale while furthering innovation in design and functionality. The company is also planning another community investment round to allow supporters to participate directly in its growth trajectory. With financial backing secured and infrastructure in place, Nothing is positioning itself to compete in the next era of consumer technology where AI integration will be central.
