London-based Nothing, the new venture from ex-OnePlus co-founder Carl Pei, has recently been in news to have raised $15M (nearly £10.8M) Series A funding to take its business to the next level.
Funding from Alphabet’ VC arm
The brainchild of the former OnePlus co-founder announced that the investment round was led by GV (formerly Google Ventures), a VC investment arm of Alphabet, which is the parent company of internet giant Google.
Nothing intends to use the new fund to expand its operations in Europe with its headquarters in London. Also, the company wants to release its first smart devices in the coming months.
“We are grateful to have a venture capital firm of this calibre help in building Nothing together with us,” said Pei, CEO and co-founder of Nothing. “We plan to aggressively grow the company, in particular our R&D and design capabilities, to realise our mission of removing barriers between people and technology.”
“Carl Pei is a seasoned entrepreneur with marketing, hardware, and distribution experience that is key to bringing new devices to market,” said Tom Hulme, General Partner at GV. “His vision for smart devices is compelling, and we have high confidence that with Pei’s global mindset, the Nothing team will have a meaningful impact on the market for consumer technology.”
So far, Nothing raised over $22M (nearly £15.8M) funding. In December 2020, the company raised $7M (nearly £5M) seed funding from tech leaders and investors including Tony Fadell, Casey Neistat, Kevin Lin, Steve Huffman and Josh Buckley. It is said that Kunal Shah, CRED founder also invested in Nothing but the amount remains undisclosed.
Notably, starting this year, Nothing said it will bring back artistry, passion and trust to the field of consumer technology.