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Carl Pei's Nothing gets new $50 million funding, announces partnership with Qualcomm to power future products

Carl Pei's Nothing gets new $50 million funding, announces partnership with Qualcomm to power future products

Carl Pei's new venture Nothing has announced that it raised additional $50 million of funding as part of the Series A extension.

Story highlights
  • London-based consumer tech brand has also confirmed it is collaborating with Qualcomm.
  • The company, in a statement, announces that the latest round of investment comes from strategic and private investors.
  • Nothing says that it will use the new investment towards research and development in preparation for the brand's entry into new product categories.

Carl Pei's all-new venture, Nothing, on Wednesday announced that it had raised an additional $50 million from strategic and private investors. Apart from announcing new funding, Nothing will collaborate with Qualcomm Technologies and its Snapdragon platform to power future tech products.

In a statement, the company revealed that the new investment would be used towards research and development in preparation for the brand's entry into new product categories as part of its ecosystem. Carl Pei, earlier, hinted that Nothing would launch new products across categories.

At the moment, the company hasn't revealed the list of new investors but has revealed select names, including Axel Christofer Hedfors and Sebastian Ingrosso (members of the Swedish House Mafia), who have invested in the new London-based tech brand.

Carl Pei, CEO and Co-founder of Nothing, said, "The successful launch of our first product, ear (1), proved that there is room for a new challenger brand to emerge and disrupt today's sea of sameness. Users deserve better products that are simpler to use, accessible, yet look amazing. Seamless connectivity is paramount to achieving our vision of a future without barriers between people and technology. We look forward to working alongside Qualcomm Technologies and our strategic investors to achieve Nothing's next phase of growth."

Enrico Salvatori, senior vice-president and president, Qualcomm Europe/MEA, Qualcomm Europe, said on the collaboration, "We are excited to help Nothing bring to life its highly anticipated ecosystem of tech products. By combining the power and efficiency of Snapdragon mobile platforms with 5G connectivity across many different categories of devices, we are fostering the development of innovative products that are intended to benefit consumers and deliver richer, more immersive experiences."

Nothing's first-ever product, the ear (1) true wireless earphones, launched in August this year. The company last month announced it had shipped over 100,000 units within two months of the launch of the ear (1). In India, the company also announced a limited period discount on the Nothing ear (1), bringing down the price to Rs 5,499. In August, Nothing claimed that it received an overwhelming response on the ear (1) true wireless earphones and that it was sold out within two minutes of going live on Flipkart. Talking about some of the highlight features of the Nothing ear (1), it comes with ANC, and the case can be charged wirelessly. In addition, there's a dedicated mobile app for true wireless earphones.