Nothing has secured $200 million in a Series C funding round, bringing its valuation to $1.3 billion. This investment is intended to support the company’s new strategic direction: developing an AI-native platform that integrates hardware and software into a single system.
A Foundation for the Future
Nothing’s statement outlines a strategic path from its origins as a smartphone company to a broader technology platform. The company reports shipping millions of devices and achieving over $1 billion in total sales, with a 150% growth rate in 2024.
This success, according to Nothing, has built the necessary infrastructure—including design, manufacturing, and supply chain networks—to support its next phase. The company states it is now uniquely positioned to launch new consumer hardware products rapidly and globally, unhindered by the bureaucratic constraints of larger, more established companies.
The Evolution of Operating Systems
The company believes that while AI has advanced significantly, the smartphone experience has not kept pace. Nothing argues that for AI to reach its full potential, consumer hardware must reinvent itself. The company envisions a future where operating systems are not one-size-fits-all, but are instead hyper-personalized to each user, with interfaces and suggestions adapting to individual needs and contexts.
This “billions of different operating systems for a billion different people” concept will begin with smartphones, audio products, and smartwatches, with long-term plans to extend to devices like smart glasses and humanoid robots. The company emphasizes that its ownership of the “last-mile distribution point” is key to developing an AI OS that understands and serves its users effectively.
The Next Generation of AI Devices
Nothing predicts that while the smartphone will remain a primary device, a new class of AI-native devices will emerge. These devices will be designed to be available at the moment of need and will capture context across various modalities. Nothing plans to launch its first of these devices next year, which are imagined as products that turn understanding into action.
Details of the Funding Round
The Series C funding round was led by Tiger Global. It also saw significant support from existing shareholders, including GV, Highland Europe, EQT, Latitude, I2BF, and Tapestry. New strategic backers include Nikhil Kamath and Qualcomm Ventures.
In addition to this institutional funding, Nothing has announced plans for a new “Community Round,” which will provide its supporters with another opportunity to invest in the company’s future.