Nothing Closes Fresh Funding Ahead Of Phone (2) Launch

With this round, Nothing's total funding has reached $250 million, as the company also crossed selling 1.5 million products. 

In a bid to scale up its business and portfolio of devices, Lonon-based Nothing on Wednesday closed an investment of $96 million. According to a report by TechCrunch, this funding will go towards expanding the consumer tech brand's business and lineup of devices, starting with its next smartphone, the Nothing Phone (2) which is expected to launch soon. With this round, Nothing's total funding has reached $250 million, as the company also crossed selling 1.5 million products. 

This development also comes amid rumours that Nothing may be working to release a smartwatch. According to a BIS certification, London-headquartered Nothing is working on a smartwatch with the model number D395.

Among Nothing's leading investors are Highland Europe which is leading the round and previous investors such as GV (Google Ventures), EQT Ventures and C Capital also participating. Swedish House Mafia is also getting a strategic stake, one that’s already being put to work. Nothing is teasing features for the new Phone (2) and yesterday it announced that it will have customizable “visual” ringtones, with one of the sound packs for the feature composed by the electronic/house music supergroup, the TechCrunch report added.

“In just over two years, we’ve assembled one of the strongest teams in the industry and sold over 1.5 million devices worldwide,” Carl Pei, CEO and Co-founder of Nothing was quoted as saying. 

“It’s clear that there’s real demand for an innovative challenger in the consumer tech industry, and with this new round of financing, we’ve never been better positioned to realize our vision to make tech fun again,” Pei added.

Nothing, which is geared up to launch a refined Phone (2) in India on July 11, has more than 450 people working across seven offices worldwide. Phone (2) is said to feature a lower carbon footprint than its predecessor as a result of the company’s ongoing sustainability initiatives.

London-based Nothing is also said to be readying a new cable design for the upcoming Phone (2), which was recently shown off on Twitter by company founder Carl Pei. However, Pei just posted the picture of the transparent cable without a caption and wrote "caption this" in the form of a GIF.

The upcoming cable from Nothing it still white, but the two USB-C plugs on either end have transparent plastic on top of a grey-coloured material with the “Nothing” logo etched into it.

It should be noted that Nothing has launched all its products with a transparent design so far, including the Nothing Phone (1) and the TWS earbuds.