Nothing secures $50M from investors and partners with Qualcomm

Nothing, a London-based consumer technology brand, has recently secured $50 million from private and strategic investors, as well as partnered with Qualcomm, a chipmaker, to power its upcoming products.

Nothing, a brainchild of OnePlus’ Co-founder Carl Pei, has introduced ear (1) TWS earbuds, its first product, for $79.65 (?5,999) in August 2021. Within a span of two months, the company has notably shipped over 100,000 units of earbuds. The product has been designed with innovative features, such as Active Noise Cancellation and over 34 hours of playtime.

Mr. Pei has apparently cited that the successful launch of the new product demonstrates the growth opportunities for the new challenger brand. It is further planning to increasingly cater to customers with the latest easy-to-use and accessible earbuds. Moreover, it is looking forward to collaborating with Qualcomm Technologies and its strategic investors to enter the next phase of growth, he added.

According to Enrico Salvatori, President and Senior VP of Qualcomm Europe/MEA, the company is targeting to combine the efficiency and power of Snapdragon mobile platforms with the 5G connectivity across a range of device categories. This product range will then benefit its consumers by offering a richer and more immersive experience.

Apart from the recent announcement, Nothing has also completed a $50 million Series A extension from private and strategic investors. The startup is planning to use the funds in the research and development activities as it prepares for the brand’s entry into various categories of the product ecosystem.

For those unversed, Nothing is a privately-held company functioning under the support of GV (formerly Google Ventures) as well as other private investors like Steve Huffman, Reddit’s Chief Executive Officer and Co-founder; Kevin Lin, Twitch’s Co-founder; Casey Neistat, Beme’s Co-founder and YouTube personality; and Tony Fadell, iPod inventor and Principal at Future Shape.

Source credit:

https://www.businessinsider.in/tech/news/nothing-raises-50-million-partners-with-qualcomm-to-use-snapdragon-technology/articleshow/86991931.cms