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Carl Pei’s London-based startup Nothing raises $50M funding; enters partnership with Qualcomm

Nothing

A young consumer tech brand headquartered in London, Nothing, just announced that it has collaborated with the chipmaker Qualcomm Technologies Inc. Eventually, the Snapdragon mobile platform will power its future tech products. Besides this, the company has also completed its Series A funding round by raising an extension of $50 million (nearly £36.7 million) from strategic and private investors. Notably, this is the biggest investment bagged by Nothing to date.

Nothing is the brainchild of the former OnePlus co-founder Carl Pei. It launched ear (1) in August 2021 and within two months over 100,000 units were shipped globally making it successful. The truly wireless earbuds combine refined design with precise engineering and active noise cancellation for a pure sound experience. It is the first device in the company’s line of connected tech products.

Focuses on R&D

The investment from this round will be used towards research and development in preparation for the brand’s entry into new product categories as part of its ecosystem. Previously, Nothing’s first equity-based community funding initiative saw over 25,000 individuals register over $35 million prior to announcing its first product. The $1.5 million investment was raised in just 54 seconds, thereby beating Monzo’s record on the platform. Nothing has quickly received global acclaim and is dubbed ‘Apple’s biggest threat’.

“The successful launch of our first product, ear (1), proved that there is room for a new challenger brand to emerge and disrupt today’s sea of sameness. Users deserve better products that are simpler to use, accessible, yet look amazing,” said Carl Pei, CEO and Co-founder of Nothing. “Seamless connectivity is paramount to achieving 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 are excited to help Nothing bring to life its highly anticipated ecosystem of tech products,” said Enrico Salvatori, senior vice-president and president, Qualcomm Europe/MEA, Qualcomm Europe, Inc. “By combining the power and efficiency of Snapdragon mobile platforms with 5G connectivity across many different categories of devices, we are fostering the development of innovative products that are intended to benefit consumers and deliver richer, more immersive experiences.”