UK-smartphone maker Nothing raises $200 million to accelerate AI ambitions

London-based consumer technology company Nothing has secured $200 million in a Series C funding round, valuing the business at $1.3 billion. The company said the fresh capital will support its plans to develop AI-native devices and expand its hardware ecosystem.

The company said its long-term vision is to build an AI-driven operating system that integrates deeply with hardware, offering hyper-personalised experiences for users. According to Nothing, current smartphones have seen little evolution in AI beyond incremental features such as translation and photo editing. It plans to use the new funding to accelerate the development of devices designed from the ground up to work with AI.

“Consumer hardware must reinvent itself for the AI era,” the company stated, outlining ambitions to expand its platform across smartphones, audio products and smartwatches, with potential future applications in smart glasses, robots and electric vehicles.

The funding round was led by Tiger Global, with participation from existing investors GV, Highland Europe, EQT, Latitude, I2BF and Tapestry. New backing also came from Nikhil Kamath and Qualcomm Ventures.

Nothing also confirmed plans to launch another Community round, giving its supporters the opportunity to invest in the company’s growth.