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Carl Pei's Nothing raises $50 mn, joins Qualcomm for future products

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New Delhi | Wednesday, 2021 8:15:07 PM IST
London-based consumer technology brand Nothing on Wednesday announced that it has raised $50 million from strategic and private investors, and collaborated with chip-maker Qualcomm to power its upcoming products.

A brainchild of OnePlus co-founder Carl Pei, Nothing launched its first product, ear (1)' TWS earbuds, for Rs 5,999 in August and within two months, it shipped over 100,000 units.

"The successful launch of our first product, ear (1), proved that there is room for a new challenger brand to emerge and disrupt today's sea of sameness. Users deserve better products that are simpler to use, accessible, yet look amazing," said Pei, CEO and Co-founder of Nothing.

Enrico Salvatori, senior VP and president, Qualcomm Europe/MEA, Qualcomm Europe said that by combining the power and efficiency of Snapdragon mobile platforms with 5G connectivity across many different categories of devices, "we are fostering the development of innovative products that are intended to benefit consumers and deliver richer, more immersive experiences."

Nothing also announced it has completed a Series A extension of $50 million from strategic and private investors.

The startup said it will use the funds towards research and development in preparation for the brand's entry into new product categories as part of its ecosystem.

"We look forward to working alongside Qualcomm Technologies and our strategic investors to achieve Nothing's next phase of growth," Pei added.

Nothing is a privately-held company with backing from GV (formerly Google Ventures) and other private investors including Tony Fadell (Principal at Future Shape & inventor of the iPod), Casey Neistat (YouTube personality and Co-founder of Beme), Kevin Lin (Co-founder of Twitch) and Steve Huffman (Co-founder and CEO of Reddit).

--IANS na/

( 288 Words)

2021-10-13-14:28:03 (IANS)

 
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