Nothing Secures $200M Series C for AI-First Device Launch

Nothing secured $200 million in Series C funding. Tiger Global led the round. This investment values the consumer electronics company at $1.3 billion.

Existing investors GV, Highland Europe, EQT, Latitude, I2BF, and Tapestry participated. New strategic backing came from Nikhil Kamath and Qualcomm Ventures. This latest capital infusion brings Nothing's total funding to over $450 million.

Advancing AI-First Device Strategy

Nothing plans to launch an AI-first device next year. The company also develops an operating system with AI and personalization features. Sélim Benayat, a former Linktree executive, now leads Nothing's AI services efforts.

The company achieved over $1 billion in total sales earlier this year. Nothing has shipped 5.1 million units to date. Over a million units shipped in Q2 2025 alone, demonstrating growth in the smartphone market.

Nothing holds less than 1% global market share. However, it commands a 2% share in India, its largest market. The recently launched Phone (3) represents its second handset with general US distribution.

Nothing will soon open another community funding round.

Developing successful AI hardware presents challenges. Humane sold to HP after struggles with its AI Pin. Similarly, Rabbit works to improve its R1 device. Even Apple has faced difficulties integrating AI features effectively.