TWS Maker Nothing Raises $ 50 Million, Says To Collaborate With Qualcomm, Telecom News, ET Telecom

NEW DELHI: Consumer tech brand Nothing said on Wednesday it has completed the Series A funding extension and raised an additional $ 50 million from strategic and private investors, including Axel Christofer Hedfors and Sebastian Ingrosso (members of Swedish House Mafia).

The latter funding will be used for research and development efforts to tackle new product categories.

The London-based company said it is also working with Qualcomm Technologies Inc., to power its upcoming products with the Snapdragon platform.

In February 2021, the company raised $ 15 million in a Series A round led by GV (formerly Google Ventures), which is a venture capital arm of Google’s parent company, Alphabet.

By December 2020, the company run by former OnePlus co-founder Pei had raised $ 7 million in seed funding from tech industry leaders and investors such as iPod inventor Tony Fadell. , YouTuber Casey Neistat, Twitch Co-Founder Kevin Lin, Product Hunt General Manager Steve. Huffman, angel investor Josh Buckley and others.

CRED founder Kunal Shah also invested an undisclosed amount in the company.

With today’s funding, Nothing has accumulated $ 77 million.

“The successful launch of our first product, ear (1), has proven that there is room for a new challenger brand to emerge and disrupt today’s sea of ​​similarity. Users deserve better products that are easier to use, accessible, but look amazing, ”said Carl Pei, CEO and co-founder of Nothing.

“We look forward to working alongside Qualcomm Technologies and our strategic investors to achieve Nothing’s next phase of growth,” added Pei.

“We’re excited to help Nothing bring its highly anticipated ecosystem of technology products to life,” said Enrico Salvatori, senior vice president and president, Qualcomm Europe / MEA, Qualcomm Europe, Inc.

“By combining the power and efficiency of Snapdragon mobile platforms with 5G connectivity across many different categories of devices, we are driving the development of innovative products to benefit consumers and deliver richer, more immersive experiences. . “