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Nothing raises $70M Series B funding

Nothing raises $70M Series B funding

Nothing, the UK consumer tech company envisioning a world without barriers between people and technology, has announced a $70M Series B fundraise, co-led by EQT Ventures and C Ventures and with participation from GV, Tony Fadell’s Future Shape, Gaorong Capital and Animoca Brands. The new funding will go towards scaling its product ecosystem and establishing its London Design Hub.

Adrian Cheng, CEO, New World Development and Co-founder, C Ventures

Further announcements about its 2022 roadmap, including a new community investment round, will be made at the Nothing (event): The Truth on 23 March 2022 at 14:00 GMT. To RSVP to the virtual event, visit nothing.tech.

“With this round of financing, we have the fuel to realise the next phase of our vision of a seamless digital future,” said Carl Pei, Nothing CEO and Co-founder. “I’m grateful for the support from our community and investors. Our first year was a warmup, and we can’t wait to reveal what we’re building at Nothing during the upcoming event.”

The new investment brings the total raised by Nothing to $144M to date, including $1.5M from its first community investment round which broke a record for fastest $1M raised. The funding will be used to create new product categories in partnership with Qualcomm Technologies and its Snapdragon platform, and grow operations at its new London Design Hub, led by ex-Dyson Head of Design Adam Bates.

“We’re delighted to be backing Nothing in this new funding round. For too long, the consumer tech industry has been dominated by the same players, offering customers uninspiring and staid products. Nothing represents a bright, new future – combining innovative design with carbon-neutrality and a forward-thinking approach to help us all re-imagine how we use and interact with our tech,’ said Ted Persson, Partner at EQT Ventures.

“We are proud to back a young entrepreneur like Carl, who shares our vision of engaging next generation customers with an artistic approach,” added Adrian Cheng, C Ventures Founder and CEO of New World Development. “We are excited to support Nothing’s mission to break the hegemony of consumer tech giants and embark on an ambitious journey to challenge the status quo.”

Nothing released its first product, ear (1), carbon-neutral true wireless earbuds in August 2021, shipping over 400,000 units. It is the first step in a promised series of seamlessly connected products, defined by iconic design.

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