The London-based smartphone manufacturer Nothing has recently obtained $200 million in a funding round led by Tiger Global, resulting in a valuation of $1.3 billion, as reported by Reuters. The investment is expected to enable the company to integrate artificial intelligence into its hardware products further.
Nothing was established in 2020 by Carl Pei, a former director and co-founder of OnePlus. According to the Reuters article, the company entered the competitive smartphone industry in 2022 and has since diversified into audio products, delivering millions of gadgets and achieving total revenues above $1 billion.
Concerning the finance, Nothing asserted that AI integration necessitates redefined consumer hardware, suggesting intentions to ultimately diversify into smart eyewear, robotics, and electric vehicles. The report states that the corporation did not furnish further data concerning specific AI features or product release schedules.
Current investors, such as GV, Highland Europe, and EQT, are engaged in the investment round.
