Nothing, the consumer technology company founded by Carl Pei in 2020 after leaving OnePlus, has raised $200 million in Series C funding at a $1.3 billion valuation. The announcement signals the start of a bold new chapter as the company prepares to move beyond transparent phones and earbuds into a future built around AI-native devices.
A strong show of investor confidence
The funding round was led by Tiger Global, marking its first major partnership with Nothing. Existing shareholders including GV, Highland Europe, EQT, Latitude, I2BF, and Tapestry also participated, alongside new strategic investors such as Qualcomm Ventures and Nikhil Kamath, co-founder of Indian brokerage giant Zerodha. The company says the capital will help accelerate its innovation roadmap and expand global distribution as it prepares for its next wave of products.
Growth milestones achieved
In a community post and statement on X, Pei reflected on how far the company has come in just four years. He noted that Nothing had shipped millions of devices, entered 2025 with over $1 billion in total sales, and achieved 150 percent growth in 2024. This rapid rise, paired with a strong design identity and loyal global community, has laid the foundation for its AI-first ambitions.
Reinventing consumer hardware with AI
Pei argues that current devices, where AI is added as an afterthought, no longer meet the moment. “To keep up with AI, consumer hardware must reinvent itself,” he said, confirming that Nothing will launch its first AI-native devices in 2026. While details remain under wraps, the company describes them as products that can capture context across multiple inputs and generate interfaces dynamically meeting users exactly when and how they need.
A new kind of operating system
Beyond hardware, Nothing is working on a radical vision for software. Pei envisions hyper-personalized operating systems that learn deeply about their users, adapt interfaces to their context, surface suggestions naturally, and use intelligent agents to handle non-essential tasks once intent is confirmed. He calls it “a billion operating systems for a billion people,” signaling a future where every user has a unique, tailored digital experience.
Expanding form factors
The company plans to begin this AI journey with devices people already rely on daily smartphones, earbuds, and smartwatches before extending the operating system into more advanced form factors like smart glasses, humanoid robots, and electric vehicles. While Pei acknowledges that smartphones will remain central in the AI era thanks to their deep access to context, he also believes a new category of always-available AI devices will emerge alongside them.
With fresh funding, a clear AI-first strategy, and strong backing from global investors, Nothing is positioning itself as more than just another smartphone maker. If successful, its next chapter could redefine how personal technology works shifting from static, one-size-fits-all tools to intelligent, proactive companions that free people to focus on what truly matters.
