Consumer technology startup Nothing has announced the close of its Series C funding round worth $200 million, with investment firm Tiger Global leading the charge. The latest funding round now values the London-based company at $1.3 billion, further cementing its status as a rising challenger in the global smartphone and consumer electronics industry.
Expanding the Investor Pool
In addition to Tiger Global, the round saw participation from a number of existing backers, including GV (Google Ventures), Highland Europe, EQT, Latitude, I2BF, and Tapestry. The company also welcomed new strategic investors such as Nikhil Kamath, co-founder of Zerodha, and Qualcomm Ventures, a move that reflects the growing interest in Nothing’s unique approach to hardware innovation.
With this infusion, Nothing has now raised over $450 million in total funding since its inception. This trajectory highlights the confidence investors have in the company’s long-term vision and execution capabilities.
A Vision Beyond Design
Carl Pei, who co-founded Nothing after his successful run at OnePlus, has been vocal about his ambition to build a company that redefines the hardware-software experience. While Nothing’s early devices stood out due to their transparent design language and bold aesthetics, the company now plans to shift toward AI-first products.
“Carl and the team at Nothing are reimagining hardware and software with an AI overlay to position their products for the next era of personal technology. We’re excited to partner with this exceptional team as they pioneer AI-native experiences,” said Matt Watcher, partner at Tiger Global, in a statement.
This pivot signals a new phase for Nothing, one in which artificial intelligence will be central to its devices, potentially offering smarter interactions and deeper ecosystem integration.
Building a Community-Driven Brand
Nothing has made community engagement a cornerstone of its strategy. The company revealed that it will soon launch another community funding round, giving fans and loyal users a chance to invest. So far, these efforts have raised $11.5 million, strengthening the company’s grassroots following and brand identity.
Growth and Market Performance
Despite being a young entrant in a crowded industry, Nothing has already achieved significant milestones. Earlier in 2025, the company crossed $1 billion in total sales. An early investor noted that the company’s growth path and profitability outlook remain promising.
The recently launched Phone (3) has been particularly important in this journey. It not only features Nothing’s trademark transparent design and customizable Glyph Interface but also marked only the company’s second major release in the U.S., underscoring its slow but deliberate global expansion strategy.
Market Share and Shipments
While Nothing’s global market share remains under 1%, it has carved out a stronger position in India, where it holds a 2% share, according to IDC. India continues to be its largest market, with 80% of sales still concentrated in Asia.
As of Q2 2025, the company has shipped 5.1 million devices globally, with more than 1 million units shipped in a single quarter — evidence that momentum is building even if its worldwide presence is still modest.
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