ondon-based gadget firm Nothing, backed by the co-inventor of the iPod Tony Fadell, has raised an extra £70 million (£53 million) in a Sequence B funding spherical led by EQT Ventures and C Ventures.
The brand new funding brings the overall raised by Nothing to $144 million, together with $1.5 million from its first neighborhood funding spherical. The brand new funds will probably be used to develop Nothing’s product vary and broaden the London Design Hub on the firm, helmed by ex-Dyson head of design Adam Bates.
“With this spherical of financing, we now have the gasoline to grasp the following section of our imaginative and prescient of a seamless digital future,” stated founder Carl Pei.
“I’m grateful for the help from our neighborhood and buyers. Our first yr was a warmup, and we will’t wait to disclose what we’re constructing at Nothing.”
Nothing already has a sequence of high-profile tech backers together with Steve Huffman, the chief govt and co-founder of Redditt, Kevin Lin, the co-founder of Twitch, and YouTube star Casey Neistat. The corporate additionally has backing from GV, previously often called Google Ventures.
The corporate, headed by One Plus co-founder Pei, is presently identified for its in-ear wi-fi headphones. Its first product vary was a line of carbon-neutral wi-fi earbuds launched in August 2021 that offered greater than 400,000 models.
Sources near the tech agency have indicated that Nothing is about to broaden its product vary with the launch of a smartphone at an occasion later this month.
“We’re proud to again a younger entrepreneur like Carl, who shares our imaginative and prescient of participating subsequent era prospects with an inventive strategy,” stated Adrian Cheng, C Ventures founder and chief govt of New World Improvement.
“We’re excited to help Nothing’s mission to interrupt the hegemony of client tech giants and embark on an formidable journey to problem the established order.”