Funding round values company at $1.3B as it accelerates AI-native hardware and software platform vision
London, United Kingdom, 16th September 2025 – Nothing, the independent consumer technology company, has raised USD $200 million in Series C funding at a valuation of $1.3 billion, marking a major milestone as it enters its next growth phase. The funding round was led by Tiger Global with strong backing from existing investors GV, Highland Europe, EQT, Latitude, I2BF and Tapestry, alongside new strategic support from Nikhil Kamath and Qualcomm Ventures.
The fresh capital will fuel Nothing’s ambition to build an AI-native platform that integrates hardware and software into a unified, intelligent ecosystem. From smartphones to wearables and beyond, the company aims to reinvent consumer hardware with deeply personalised AI-driven operating systems.
Building the foundation for AI-native devices
Founded with a vision to redefine consumer tech, Nothing has scaled rapidly, shipping millions of devices worldwide in just four years and surpassing $1 billion in total sales at the start of 2025, after 150% growth in 2024. The company credits its success to an end-to-end value chain spanning design, manufacturing, supply chain, and global distribution.
“From day one, our thesis was that owning the last-mile distribution point in consumer tech would position us for the next technology shift,” said Carl Pei, CEO and Co-founder, Nothing. “That shift is now here: the convergence of hardware and AI into hyper-personalised operating systems that adapt to each individual. This funding allows us to accelerate our roadmap and bring the next generation of AI-native devices to life.”
Reinventing the smartphone experience
Nothing believes the smartphone remains the most important consumer device in the AI era due to its unmatched access to contextual information. However, the company argues that smartphone innovation has stagnated, with AI features limited to incremental improvements.
Nothing envisions an AI operating system that deeply understands its users, adapts interfaces dynamically, and anticipates needs across devices—from smartphones and wearables to future innovations like smart glasses, humanoid robots, and EVs.
The road ahead
With Series C secured, Nothing is preparing to unveil its first AI-native devices in 2026 while also launching a new Community round to allow supporters to invest in the company’s journey.
“This is only possible because of our community, our team, and our partners,” added Pei. “We’re excited to begin the next chapter: building consumer AI experiences that truly amplify human potential.”
About Nothing
Founded in 2020, Nothing is a London-based consumer technology company on a mission to remove barriers between people and technology. With award-winning design and a rapidly expanding global footprint, Nothing has launched innovative products including smartphones, earbuds, and wearables, building a strong community-led brand. The company is now pioneering the next generation of AI-native consumer devices.
