Nothing Raises $50 Million in New Funding

Nothing Secures $50 Million Series A Extension Following Ear (1) Launch

Following the debut of its inaugural product, the Ear (1), on July 31st, Nothing has revealed a $50 million “Series A Extension.” This investment elevates the company’s cumulative funding to $74 million.

This latest round arrives after the February announcement of a $15 million Series A funding initiative.

Community-Focused Early Investment

Prior to the Series A, Nothing secured $1.5 million in equity funding. This was specifically intended to cultivate a strong community, mirroring the success of founder Carl Pei’s previous venture, OnePlus.

While the participants in this current extension haven’t been disclosed, the initial Series A was spearheaded by GV and included contributions from prominent investors like Tony Fadell, Casey Neistat, Kevin Lin, and Steve Huffman.

Expansion into New Product Categories

The newly acquired funds will be allocated to “research and development” as Nothing prepares to introduce products beyond its initial offering. This expansion aims to build a comprehensive ecosystem of devices.

As Pei previously indicated, the company has a substantial number of products currently in development.

Strategic Collaboration with Qualcomm

Alongside the funding announcement, Nothing revealed a collaboration with Qualcomm. Future devices from Nothing will incorporate Snapdragon chips.

“Seamless connectivity is paramount to achieving our vision of a future without barriers between people and technology,” stated Pei. “We look forward to working alongside Qualcomm Technologies and our strategic investors to achieve Nothing’s next phase of growth.”

Early Sales Success and Future Prospects

Nothing recently reported that over 100,000 units of its Ear (1) earbuds were shipped within the first two months of release.

The company has consistently alluded to forthcoming products, though specific details remain undisclosed.

Qualcomm's Strategic Move

Snapdragon chips from Qualcomm power a diverse array of devices, ranging from wearable technology to laptops, with smartphones historically being a core focus.

Qualcomm has likely observed the trend of companies like Apple and Google developing their own in-house chip solutions and is responding strategically.