Consumer electronics startup Nothing has closed its $200 million Series C funding round, led by Tiger Global, valuing the company at $1.3 billion. Other participants in the round included GV, Highland Europe, EQT, Latitude, I2BF, Tapestry, Qualcomm Ventures, and strategic investor Nikhil Kamath. With this latest raise, Nothing’s total funding now exceeds $450 million, strengthening its position as one of the fastest-growing hardware startups in recent years.
The fresh infusion of capital is expected to accelerate the company’s expansion and support its push toward integrating artificial intelligence into hardware and software. “Carl and the team at Nothing are reimagining hardware and software with an AI overlay to position their products for the next era of personal technology. We’re excited to partner with this exceptional team as they pioneer AI native experiences,” said Matt Watcher, partner at Tiger Global, in a statement to TechCrunch.
Founded by Carl Pei, best known as the co-founder of OnePlus, Nothing has quickly built a distinct identity in the crowded consumer tech space. Its signature transparent design language and user-centric software have resonated with younger consumers, helping the company cross $1 billion in sales this year. To date, Nothing has shipped 5.1 million devices globally, with the recently launched Phone 3 further expanding its presence. The device marks the brand’s second handset available for general distribution in the US, reflecting the company’s intent to scale beyond its initial strongholds.
Despite its rapid growth, Nothing’s global smartphone market share remains below 1 percent. However, India continues to be its most important market, where it commands a 2 percent share. According to IDC data, the company shipped over a million units in Q2 2025 alone, with nearly 80 percent of its total sales concentrated in Asia. This demonstrates strong regional traction even as the company gradually extends its global footprint.
With new funding and investor backing, Nothing is positioning itself not just as a smartphone maker but as a player shaping the future of personal technology. Its focus on AI-native experiences could serve as a key differentiator in an industry facing commoditization and shifting consumer expectations.
