Nothing is planning a major expansion with a new investment of $100 million
London-based startup Nothing, known for its transparent-back smartphones, plans to raise $100 million to expand its operations, sources familiar with the matter said.
Here's What We Know
The company founded by Carl Pei, co-founder of OnePlus, has launched a Series C round to expand its operations. The startup, backed by Google's venture capital arm and iPod creator Tony Fadell, aims to go beyond phones, watches and headphones.
Nothing doubled its annual revenue to more than $500m in 2024 and recently surpassed $1bn in lifetime sales. The company told investors that its margins have improved from last year and that it has sold 7 million units across all product categories to date.
The main markets for Nothing are India, Germany and the UK, and for audio equipment are the US, UK, Germany and Japan. The company plans to make a bigger push into the US market in 2026 and is exploring expansion into additional product categories.
Nothing has about 600 employees and manufactures devices in China and India. The startup is also working to overhaul its software to add more artificial intelligence features, with improvements due to launch in the first half of the year.
Source: Bloomberg
