Nothing Raises $200 Million Series C Led by Tiger Global, Launches AI-First Consumer Device Vision

Nothing, the innovative consumer technology startup founded by Carl Pei, has successfully closed a $200 million Series C funding round led by Tiger Global, bringing the company’s valuation to $1.3 billion. This latest injection of capital marks a pivotal moment as Nothing transitions from being primarily a hardware company to embracing an AI-native future where software and hardware converge seamlessly into intelligent consumer devices.

Founded in 2020 by Carl Pei, who previously co-founded OnePlus, Nothing established itself quickly in the smartphone market with its first device launch in 2022. The brand has been recognized as the only new smartphone maker to have emerged in the last decade, a rare feat given the highly competitive landscape of consumer tech. Over four years, Nothing has demonstrated its ability to build an end-to-end value chain capable of speed, scale, and quality, shipping millions of devices globally and establishing manufacturing and supply chain networks optimized for cost and quality.

The company’s philosophy is grounded in building a highly personalized operating system integrating hardware and software — a vision now crystallized by this new funding round. Nothing aims to push the boundaries of consumer technology by developing its next generation of AI-native devices. These devices are expected to deliver intelligent, context-aware experiences, enhancing user interaction through deep hardware-software integration, beyond what conventional smartphones currently offer.

Leading new investors include Tiger Global, alongside Qualcomm Ventures and prominent individual backers such as Nikhil Kamath. Existing supporters, including GV (formerly Google Ventures), EQT, Highland Europe, Latitude, I2BF, and Tapestry, also participated in the round, underscoring strong confidence from some of the industry’s most notable venture and strategic investors.

Pei emphasized that while launching a hardware company is notoriously challenging with little room for error, Nothing’s team combines pragmatic rapid product development with an innovative mindset focused on community and design. The company maintains a close relationship with its user base, which it credits for much of its success and will continue to engage through upcoming initiatives, including a new Community round allowing supporters to participate directly in Nothing’s growth.

Looking ahead, the company is preparing to release its AI-first device next year, which promises an intelligent system where hardware and software dynamically adapt to user needs. This forward-thinking vision aligns with broader industry trends where artificial intelligence is increasingly embedded into consumer electronics, moving beyond traditional apps and features to become integral in device operation and user experience customization.

Nothing’s successful Series C round not only fuels its ambitious roadmap but also highlights a growing investor appetite for startups that blend hardware innovation with advanced AI capabilities. As consumer preferences evolve towards more personalized and intelligent technology solutions, Nothing’s AI-native platform strategy positions it to capitalize on this next wave of digital transformation in the consumer tech sector.

With this fresh capital and strategic vision, Nothing is poised to redefine how consumers interact with their devices, combining cutting-edge AI technologies with elegant design and a robust product ecosystem — a promising sign of the AI-native future Carl Pei envisioned when founding the company five years ago.