Nothing Said to Raise Funding, Crosses $1 Billion in Lifetime Sales

1 month ago 25

Nothing, a smartphone shaper backed by Google's task limb and iPod creator Tony Fadell, is seeking to rise astatine slightest $100 cardinal (roughly Rs, 864 crore) successful backing to grow its operations, according to radical with cognition of the matter.

The London-based startup, which launched successful 2021 to fanfare from exertion enthusiasts, kicked disconnected the Series C circular successful caller days, said the people, who asked not to beryllium identified due to the fact that the plans haven't been announced.

Several newcomers person tried to situation Apple Inc.'s iPhone with caller devices, but fewer extracurricular of China person travel adjacent to rivaling the well-capitalised marketplace leaders. Nothing antecedently raised astir $100 million (roughly Rs, 864 crore) successful 2023.

Nothing has gained fans with the unsocial plan of its smartphones, which diagnostic a transparent back. The startup is tally by Carl Pei, 1 of the creators of OnePlus, a fashionable China-based telephone maker. Nothing sells phones ranging from $250 (roughly Rs.21,625) to $700 (roughly Rs. 60,551), arsenic good arsenic respective antithetic earbuds and a smartwatch.

In 2024, Nothing doubled its yearly gross to much than $500 cardinal (roughly Rs. 4,324 crore) and precocious crossed $1 cardinal (roughly Rs. 8,649 crore) successful beingness sales, the radical said. It has besides told investors that its margins person improved from a twelvemonth agone and that it has sold 7 cardinal units crossed each merchandise categories to date.

A Nothing spokesperson declined to comment.

Though customers successful the US tin bargain Nothing devices, the institution chiefly sells its phones overseas. Nothing's biggest marketplace is India, followed by Germany and the UK, the radical said. The apical marketplace for the company's audio cogwheel is the US, followed by the UK, Germany and Japan.

Nothing is focused connected ramping up income extracurricular the US this year, but plans to marque a bigger propulsion into the American marketplace successful 2026. It's besides exploring an enlargement into further merchandise categories. The institution has astir 600 employees and manufactures devices successful China and India.

Like astir non-Apple smartphones, the Nothing devices tally the Android operating system. The startup is moving connected overhauling its bundle to adhd much artificial quality features, with the enhancements acceptable to motorboat successful the archetypal fractional of the year.