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Nothing Raises Additional $50 Mn

The company plans to use the fund towards research and development in preparation for the brand”s entry into new product categories as part of its ecosystem.

Consumer technology brand Nothing has completed a series A extension of USD 50 million (around Rs 376 crore) from strategic and private investors.

The company plans to use the fund towards research and development in preparation for the brand”s entry into new product categories as part of its ecosystem.

“Seamless connectivity is paramount to achieving our vision of a future without barriers between people and technology. We look forward to working alongside Qualcomm Technologies and our strategic investors to achieve Nothing”s next phase of growth,” Nothing CEO and Co-founder Carl Pei said in a statement.

Nothing”s total funding after the fresh fund close has reached USD 74 million.

The additional USD 50 million funding follows the USD 16.5 million series A raise that the company closed in the first quarter of 2021 and the USD 7 million seed investment secured in the last quarter of 2020.

(PTI)

Source: Business World

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