This will help the company to create an artificial intelligence-native platform where hardware and software converge into a single intelligent system
Led by Tiger Global and Qualcomm Ventures, London-based smartphone maker Nothing has raised USD 200 million in a series C round at a valuation of USD 1.3 billion, its Chief Executive Officer (CEO) Carl Pei said in a post.
The fundraise will help the company to create an artificial intelligence-native platform where hardware and software converge into a single intelligent system. Consumer hardware also must reinvent itself alongside AI, Pei wrote in a LinkedIn post.
“We are excited to welcome Tiger Global, Nikhil Kamath and Qualcomm Ventures as new partners on this journey. And grateful to GV, EQT, Highland Europe. Latitude, Tapestry and our shareholders for their continued belief in Nothing,” the CEO added.
Pei shared that the first four years were about building foundations, an end-to-end value chain capable of delivering products at speed, scale and quality. Along the way, the company shipped millions of devices, passed USD 1 billion in total sales, and grew 150 per cent in 2024, he mentioned. Pei added that the future plans revolve around operating systems that personalised, contextual, proactive.
“A billion different operating systems for a billion different people. And because an AI OS that does not know its user cannot deliver, owning the last-mile smartphone distribution point makes us uniquely positioned to build this future,” the Co-founder stated.
Pei added that a new class of AI-native devices will emerge. Products that are available to the user at the moment of need, paired with intelligence that turns understanding into action. In the near-term, we believe that the smartphone will remain the only device shipping at billion-unit scale each year, he pointed out, while adding that we will learn that the more context we can feed our AI, the more useful it becomes in the coming years.
