Nothing Secures $200 Million in Series C Funding
London-headquartered consumer tech company Nothing has raised a fresh $200 million in its Series C funding round, boosting its valuation to $1.3 billion. The latest capital influx cements Nothing’s position as a rising star in consumer electronics and paves the way for its next growth phase centered around artificial intelligence (AI).
The funding round was led by prominent investors including Tiger Global, with fresh stakes taken by India’s Zerodha co-founder Nikhil Kamath and Qualcomm Ventures, reaffirming Nothing’s global growth ambitions and strong ties with the Indian market.
India Remains the Heart of Nothing’s Growth Story
India has emerged as a particularly important market for Nothing’s expansion strategy. According to research by Counterpoint, the brand witnessed a staggering 577% year-on-year growth in India in 2024, becoming the fastest-growing smartphone brand in the country for six consecutive quarters.
To further solidify its presence, Nothing is actively investing in local manufacturing under the “Make in India” initiative. Two of its recent flagship phones—the Phone 3a and Phone 3a Pro—are assembled domestically in Chennai. This focus on India-based production helps reduce supply chain vulnerabilities and optimize costs, a crucial factor amid fluctuating global trade dynamics.
CEO Carl Pei’s Vision: AI-Native Devices at the Core
Speaking on the funding, Nothing’s CEO and Co-founder Carl Pei outlined a bold vision of converging hardware and software into an AI-native platform. Pei emphasized:
“This milestone marks the start of our next phase—from being the only independent smartphone company to emerge in the last decade towards building an AI-native platform in which hardware and software merge into a single intelligent system.”
He noted that while AI has made significant leaps in recent years, the smartphone experience has remained largely static. Nothing’s ambition is to reinvent consumer hardware equipped with AI to offer deep personalization, context-aware interfaces, and proactive assistance tailored to each individual’s needs.
Impressive Growth and Milestones
-
In just four years, Nothing has shipped millions of devices globally.
-
Early 2025 saw the company surpass $1 billion in cumulative sales.
-
The brand achieved an outstanding 150% growth in 2024, driven by both product quality and market expansion.
Nothing plans to introduce AI-powered products not only in smartphones but also across wearables, smart glasses, robots, and electric vehicles, aiming to create a broad ecosystem of AI-native consumer electronics.
Strategic Investments and Future Expansion
Aside from Tiger Global, leading existing investors including GV, Highland Europe, and EQT participated in the round. New strategic investors brought fresh capital and connections:
-
Nikhil Kamath, a celebrated Indian entrepreneur and investor, brings local market expertise.
-
Qualcomm Ventures offers key technological partnerships and semiconductor know-how.
Nothing is also exploring ramping up exports from India, focusing on building a global distribution network while mitigating risks associated with international trade policies.
What This Means for Consumers and the Industry
With these investments, consumers can expect:
-
Next-generation AI-integrated devices with smarter user experiences.
-
Enhanced product innovation cycles and quicker time-to-market.
-
Continued price competitiveness due to local manufacturing efficiencies.
The company’s vision positions it as a unique challenger in a market dominated by major players through its fast innovation, community-driven approach, and AI-centric philosophy.
Frequently Asked Questions (FAQ)
How much funding did Nothing raise in 2025?
Nothing raised $200 million in its Series C funding round, valuing the company at $1.3 billion.
Who are the new investors in Nothing?
New investors include Zerodha co-founder Nikhil Kamath and Qualcomm Ventures, alongside Tiger Global and existing backers.
What is Nothing’s growth strategy in India?
Nothing focuses on local manufacturing under Make in India and is one of India’s fastest-growing smartphone brands with significant market share gains.
What vision did Carl Pei share about Nothing’s future?
Carl Pei aims to transform Nothing into an AI-native platform company where hardware and software integrate into a personalized intelligent system.
Will Nothing expand beyond smartphones?
Yes, plans include AI-native devices in wearables, smart glasses, robots, and electric vehicles to create a broad ecosystem.
Nothing’s $200 million funding round at a $1.3 billion valuation highlights its rapid evolution from an independent smartphone brand to a pioneer of AI-native consumer technology. With India playing a crucial role as both a major market and manufacturing hub, Nothing is poised for ambitious global expansion.
Under Carl Pei’s leadership, the company is set to build devices that deeply understand users, personalizing interactions and adapting to real-world contexts, potentially reshaping the future of personal technology.