On October 13, Nothing announced the completion of Series A extension funding of $ 50 million (approximately Rs 376.20 crore) from strategic and private investors, including Swedish DJ duo Axel, Christopher Headforce and Sebastian Ingroso. The company, led by London-based OnePlus co-founder Carl Pei, has announced a partnership with Qualcomm Technology to use the Snapdragon platform to power future tech devices. Earlier this year, Nothing began its journey by introducing Ear 1 true Wireless Stereo (TWS) earbuds.
The funds will be used for research and development (R&D) in preparation for Nothing’s entry into new product categories, the company said in a statement.
Nothing has not yet revealed details about its next offer. However, the company has suggested expanding its product range by adding new connected devices in partnership with Qualcomm.
“Uninterrupted connectivity is paramount to achieving our vision of a seamless future between people and technology,” said Carl Pei, CEO and co-founder. “We want to achieve the next level of growth in anything with Qualcomm Technologies and our strategic investors.”
Qualcomm has a range of Snapdragon chipsets that enable Nothing to enable wireless connectivity on its future devices. Whether the young company is ready to enter directly into the fast-growing smartphone market or some Internet of Things (IoT) devices in the early stages.
Carl Pei left OnePlus last year to launch Nothing as his new venture. The company introduced first device Nothing Ear 1 in july. Ear 1 Earbuds offer attractive transparent build with features such as active voice cancellation and cross-platform support.
Within two months of their launch, Nothing Ear 1 earbuds had exceeded 100,000 units in global exports. They also saw a drop in prices during the recent Flipkart Big Billion Day Sale.
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