Nothing raises USD 200 mn from Tiger Global, Nikhil Kamath, others

New Delhi: Consumer technology firm Nothing on Tuesday said it has raised USD 200 million (about Rs 1,762 crore) in a Series C funding round, valuing the company at USD 1.3 billion, to accelerate its efforts to build an AI-native platform where hardware and software converge.

Nothing is a British consumer electronics manufacturer based in London. It was founded by Carl Pei, the co-founder of the Chinese smartphone maker OnePlus.

The funding round was led by Tiger Global, with support from existing shareholders, including GV, Highland Europe, and EQT. New strategic backing came from Nikhil Kamath and Qualcomm Ventures, the company said in a statement.

The fresh capital will be used to accelerate the company's innovation roadmap and further scale its distribution network.

The London-headquartered four-year-old company reported that it crossed USD 1 billion in total sales at the beginning of 2025. It also announced plans to launch its first AI-native devices next year.

“In the near-term, we believe that the smartphone will remain the only device shipping at a billion-unit scale each year. But soon, we’ll all be carrying an additional device that will be just as important. In the coming years, we’ll learn that the more context we can feed our AI, the more useful it becomes. The smartphone, while powerful, can’t always be there for us.

“We have been hard at work imagining what this future could look like, and can’t wait to launch some of our first AI-native devices next year,” the company said.

Alongside the Series C funding, Nothing said it is also preparing for a new 'Community round' to allow its supporters an opportunity to invest in the company.

Nothing is set to open its first flagship store in India this year, while its sub-brand CMF is setting up its global headquarters in the country.

Nothing recently moved CMF's Global Marketing function to India, as part of its vision to build CMF into a global brand from India.