Nothing, a smartphone startup based in London that is famous for its see-through phone design, is aiming to secure at least $100 million in a fresh funding round, as reported by Bloomberg. This Series C financing follows the company’s earlier achievement of raising around $100 million in the year 2023.
Unique Design and Market Presence
Co-founded by Carl Pei, who also helped start OnePlus, the company is celebrated for its distinct design philosophy that spans across its range of products, like smartphones, earbuds, and smartwatches. Because of this, Nothing’s gadgets have gained a positive reception in the global marketplace. Currently, India stands as Nothing’s largest market for smartphones, trailed by Germany and the UK. In a twist, the situation is different for their audio devices, with the US leading as the top market, followed by the UK, Germany, and Japan.
Impressive Growth and Sales
In 2024, the firm reportedly doubled its yearly revenue, surpassing $500 million and reaching over $1 billion in total sales since its inception. They also shared with investors that profit margins have improved, and that over 7 million units have been sold across all product types.
Exciting Upcoming Launches
Nothing is preparing to launch its flagship Phone (3) smartphone. While not many details are available about this new device, a leaked communication from co-founder Carl Pei hints at the smartphone being introduced with “groundbreaking innovations in user interface, marking our initial move towards an AI-driven platform.” Pei also mentioned that in the first quarter, there will be a “significant smartphone launch that the world will be thrilled to witness.” Although specifics are still under wraps, this could be a device from their sub-brand CMF.
Bloomberg’s report indicates that the company plans to focus on increasing international sales beyond the US in 2025, with a more targeted approach toward the American market expected in 2026. Moreover, Nothing is looking into expanding into new product categories beyond just smartphones, earbuds, and smartwatches.
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