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2d ago

Nothing Raises $200 Million Series C at $1.3 Billion Valuation to Pursue AI-Native Devices

The new funding accelerates Carl Pei’s pivot toward an AI-native platform extending the brand’s design-led hardware beyond phones.

Carl Pei of Nothing
Image
Nothing phones are known for their semi-transparent design and dot-matrix inspired software
Carl Pei, Nothing CEO.

Overview

  • Tiger Global led the round, joined by GV, Highland Europe, EQT, Latitude, I2BF and Tapestry, with new strategic backing from Qualcomm Ventures and Nikhil Kamath.
  • Nothing says it will introduce its first AI-native devices next year while developing a hyper-personalized operating system built around context and proactive agents.
  • The company reported surpassing $1 billion in cumulative sales early in 2025 after 150% revenue growth in 2024 and shipments of millions of devices.
  • Nothing hired Sélim Benayat to lead AI services as it shifts focus from design-led differentiation toward AI-driven user experiences.
  • The company is preparing a community funding round to let retail supporters invest at the same valuation as the Series C.