London-based consumer tech firm Nothing has announced that it has finalized a $ 50 million Series A expansion from strategic and private investors.
The company, founded by former OnePlus co-founder Carl Pei, has announced a collaboration with Qualcomm Technologies Inc. Nothing will take advantage of Qualcomm’s Snapdragon platform for future tech products, he said.
The funding will be used for R&D to enter new product categories.
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Pei, CEO and Co-Founder of Nothing, said: “The successful launch of our first product, ear (1), has proven that there is room for a new challenger brand to emerge and disrupt the sea of similarity today. Users deserve better products that are easier to use, accessible, but look amazing. Seamless connectivity is essential to realize 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’re excited to help Nothing bring its highly anticipated ecosystem of technology products to life,” 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 driving the development of innovative products to benefit consumers and deliver richer, more immersive experiences. Salvatori added.
After releasing OnePlus in October 2020, Pei launched his consumer tech company in January.
In February, it raised $ 15 million in a Series A round led by GV (formerly Google Ventures), leading to overall funding of $ 22 million.
Pei had previously raised $ 7 million in seed funding from technology leaders and investors such as Tony Fadell, Casey Neistat, Kevin Lin, Steve Huffman and Josh Buckley. The company is also backed by Indian entrepreneur and CRED founder Kunal Shah.
Nothing launched its first product, a true wireless stereo or TWS device called ear (1), in August 2021 and within two months has shipped over 100,000 units. It announced its entry into India in partnership with the country’s e-commerce marketplace Flipkart earlier this year.
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