Nothing Raises USD 200 Million in Series C Funding, Plans AI-Native Devices Launch in 2026

New Delhi, September 16, 2025 — London consumer tech brand Nothing has raised USD 200 million in its recent Series C round, taking its valuation to USD 1.3 billion. The new capital, supported by both existing and new investors, arrives as the company embarks on its next growth journey beyond smartphones to create an AI-native ecosystem in which hardware and software exist as a unified, intelligent system.

Founded in 2020 by OnePlus co-founder Carl Pei, Nothing has spent the last four years building a niche as one of the only standalone smartphone manufacturers to debut in the past decade. Pei said that going the hardware-first route was a conscious choice, setting the stage for the next significant technology wave.

We had a thesis that if we could establish a smartphone business at scale and control the last-mile distribution point in consumer tech, we would be well-situated for the next technology transition,” Pei said. “We didn’t know then precisely what that transition was going to be, but today it’s as clear as day.

He emphasized that Nothing’s journey needed a team that could find a balance of pragmatism in order to get products out fast, yet continue to drive the innovation required to build experiences that connect with its community.

Since launching in 2020, Nothing has shipped tens of millions of units around the world and passed USD 1 billion in lifetime sales as of early 2025. It also registered a 150% jump in revenue in 2024, reflecting robust demand for its products. Its product line now goes beyond smartphones to also include wireless earbuds, backed by a mature global supply chain and production network.

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