Overview

• London company Nothing has raised $96 million in funding and a total of $250 million to date, allowing it to scale its business and release new devices.
• Nothing was founded by Carl Pei to create innovative smartphone designs and experiences, launching Phone (1) in 2021 which won design awards for its transparent casing and sustainable materials.
• Phone (2) aims to limit phone addiction and diversion by changing app interfaces, and Nothing plans to continue developing new phones and wireless earbuds.
• Nothing's funding round was led by Highland Europe, whose partner Tony Zappala joins Nothing's board of directors.
• The new capital will fund Nothing's expansion into the U.S. market to compete with major players like Apple, while also cutting costs to survive current economic conditions.