Nothing closes $200M Series C at $1.3B to build AI-native platform

London-based consumer electronics startup Nothing said on Tuesday it has closed a $200 million Series C funding round led by Tiger Global, valuing the company at $1.3 billion. The fresh capital, which brings Nothing's total disclosed funding to more than $450 million, includes participation from existing investors GV, Highland Europe, EQT, Latitude, I2BF and Tapestry, as well as new strategic backers Nikhil Kamath and Qualcomm Ventures.

Nothing said it will use the funding to accelerate development of an AInative platform that tightly integrates hardware and software, scale its global distribution and speed up product launches. The company, founded by former OnePlus cofounder Carl Pei, said it crossed $1 billion in cumulative sales earlier this year after shipping millions of devices and that revenue grew roughly 150 percent in 2024. Counterpoint Research separately reported that Nothing recorded 146 percent annual growth in smartphone shipments in India in the second quarter of 2025, making it the fastest growing brand in the country for the sixth consecutive quarter, according to the firm.

"With this milestone we are moving beyond an independent smartphone origin towards...