Smartphone brand Nothing secures $200M funding; will venture into AI

NEW DELHI: UK-based smartphone maker Nothing Technology Ltd said on Tuesday that it has raised $200 million in a Series C funding round, bringing its valuation to $1.3 billion. The company also makes its phones in India at its Chennai plant.

The round was led by Tiger Global, with participation from existing investors GV, Highland Europe, and EQT. New strategic backing also came from Nikhil Kamath and Qualcomm Ventures. The company said in a press note that it plans to venture into the AI space, aiming to create products where hardware and software work together as one system.