NEW DELHI— London-based consumer tech company Nothing announced Tuesday that it has raised $200 million in its latest Series C funding round, valuing the company at $1.3 billion, with India remaining central to its global growth plans.
The round included new strategic investors such as Zerodha Co-founder Nikhil Kamath and Qualcomm Ventures.
Nothing CEO Carl Pei said the funding will help accelerate product innovation and strengthen investment in AI-native products as the company expands globally.
“This milestone marks the start of our next phase: From being the only independent smartphone company to emerge in the last decade, towards building an AI-native platform in which hardware and software converge into a single intelligent system,” Pei said.
Since its founding four years ago, Nothing has shipped millions of devices, surpassed $1 billion in total sales at the start of 2025, and achieved 150 percent growth in 2024.
India has emerged as a key driver of the company’s expansion. According to Counterpoint Research, Nothing recorded 577 percent year-over-year growth in the Indian market in 2024. The company is also weighing plans to increase exports from India as a hedge against shifting global trade policies.
As part of its strategy, Nothing has leaned heavily on local production through the ‘Make in India’ initiative. Its latest devices, the Phone 3a and Phone 3a Pro, are assembled in India — a move designed to help control costs and respond more effectively to global supply chain disruptions.
“For AI to reach its full potential, consumer hardware must reinvent itself alongside it. This is the opportunity we see for Nothing. We see a future where operating systems are significantly different from the ones today. Each system will know its user deeply, and be hyper-personalized to each individual. Interfaces will adapt to our context and needs,” Pei added. (Source: IANS)
