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Nothing Raises $200 Million at $1.3 Billion Valuation to Launch AI‑Native Devices in 2026

The company is pivoting from design‑led phones to a hyper‑personalized AI platform built around a bespoke operating system.

Overview

  • Tiger Global led the $200 million Series C, with GV, Highland Europe, EQT, Latitude, I2BF and Tapestry participating alongside new strategic investors Qualcomm Ventures and Zerodha co‑founder Nikhil Kamath, bringing total funding to over $450 million.
  • CEO Carl Pei outlined plans for a hyper‑personalized operating system that adapts to individual users and eventually spans phones, audio products and smartwatches to future categories such as smart glasses and robotics.
  • Nothing says it will debut its first AI‑native hardware next year, positioning the products as additional devices beyond smartphones.
  • The company reported crossing $1 billion in cumulative sales early in 2025, has shipped about 5.1 million devices with over 1 million in Q2 2025, and holds roughly 2% share in India per industry data cited in coverage.
  • Nothing is preparing a new community investment round for retail backers, and has hired Sélim Benayat to lead its AI services efforts.