What you need to know
- Nothing is holding a virtual event on March 23.
- There’s a good chance that the startup will detail its first smartphone at the event.
- It has also announced a $70 million Series B fundraise, co-led by EQT Ventures and C Ventures.
Carl Pei’s consumer tech startup Nothing has raised $70 million through a Series B funding round. The investment round was co-led by EQT Ventures and C Ventures and saw participation from GV, Tony Fadell’s Future Shape, Gaorong Capital, and Animoca brands.
Nothing plans to use the new funding to scale its product ecosystem and set up a Design Hub in London. The London Design Hub will be led by ex-Dyson head of design Adam Bates.
The startup will share more details about its 2022 roadmap at “The Truth” event on March 23. While Nothing hasn’t explicitly confirmed anything just yet, it is likely that we will also see the startup’s first smartphone at the virtual event.
The company did note in its press release that it will use the funding to “create new product categories in partnership with Qualcomm Technologies and its Snapdragon platform."
Nothing has raised $144 million so far, including $1.5 million from its first community investment round in early 2021.
“With this round of financing, we have the fuel to realize the next phase of our vision of a seamless digital future,” said Carl Pei, Nothing’s CEO and co-founder. “Our first year was a warmup, and we can’t wait to reveal what we’re building at Nothing during the upcoming event.”
TechCrunch reported earlier this month that Nothing would introduce its first smartphone sometime next month. While the report did not include too many details, we did see an alleged spy shot of a prototype yesterday.
The phone is tipped to feature a similar design language as the company’s Ear 1 true wireless earbuds, with “elements of transparency” to set it apart from the best Android phones.
