Phone Startup Nothing Raises Funding, Crosses $1 Billion in Lifetime Sales

In the rapidly evolving smartphone market, a new player has emerged, making waves with its innovative design and unique approach to consumer technology. Nothing, the London-based consumer technology brand, has raised $96 million in a new round of funding led by Highland Europe, with participation from existing investors GV (Google Ventures), EQT Ventures, C Capital, and Swedish House Mafia. This latest funding round brings Nothing's total funding to $250 million, just as the company crosses the $1 billion mark in lifetime sales.

Founded in 2020 by Carl Pei, the former co-founder and global head of OnePlus, Nothing has quickly established itself as a disruptor in the smartphone market. The company's debut product, the Nothing Phone (1), was launched in 2022 and was named one of Time Magazine's "Best Inventions of 2022" for its innovative design. The Phone (1) also received the prestigious Red Dot Design Award, along with the rest of Nothing's product portfolio, including the true wireless audio devices Ear (2) and Ear (Stick).



Nothing's success can be attributed to its unique design philosophy, which focuses on minimalism, simplicity, and a futuristic aesthetic. The company's transparent design and Glyph Interface, a system of LED lights that serve both aesthetic and functional purposes, have set its products apart from competitors. This design philosophy has resonated with consumers, particularly those who value individuality and innovation.

In addition to its unique design, Nothing has also focused on sustainability and eco-friendly practices. The company's commitment to environmental responsibility has appealed to a growing segment of consumers who are increasingly concerned about the impact of their purchases on the environment.



Nothing's community financing rounds and the appointment of a community member as a Board Observer have also played a significant role in the company's product innovation and user engagement. By involving the community in the financing process, Nothing has been able to gather insights and feedback from a diverse range of users, which has helped shape the development of its products. This approach has allowed the company to create products that better meet the needs and preferences of its target audience, enhancing user engagement and satisfaction.

As Nothing continues to grow and expand its product portfolio, the company remains committed to its mission of making tech fun again. With its latest funding round and the upcoming launch of the Nothing Phone (2), Nothing is well-positioned to continue its success in the competitive smartphone market. The company's unique design philosophy, commitment to sustainability, and focus on user engagement have all contributed to its impressive growth and will continue to drive its success in the years to come.