Nothing raises $96m from Highland Europe to fund US expansion and new smartphone launch
The funding round was led by Highland Europe and will support the release of the Phone 2.
≈ £76.1M at $1 = £0.7928 on 29 Jun 2023
A consumer electronics manufacturer known for transparent aesthetics and mobile devices, achieving unicorn status with global backing.
London-based consumer technology manufacturer Nothing has secured $96m in funding led by Highland Europe, with participation from GV, EQT Ventures, C Capital, and Swedish House Mafia. The capital will support the business as it prepares to launch its second smartphone model and expand its commercial footprint into the United States.
Founded by Carl Pei, the company has sold over 1.5 million devices since its inception, including its debut phone and various audio accessories. Highland Europe partner Tony Zappalà will join the board following the investment.
From the founder
"It's clear that there's real demand for an innovative challenger in the consumer tech industry, and with this new round of financing, we've never been better positioned to realise our vision to make tech fun again."
Carl Pei
Co-founder at Nothing
Investor perspective
"In an industry as challenging as this, it has been quite some time since a new company of this scale and ambition has reached this stage, given the difficulty and complexity of surviving in such a competitive environment. We firmly believe that Nothing has something truly distinctive to offer, coupled with an exceptional team. We are enthusiastic about supporting Nothing as they take on the consumer tech giants and challenge the prevailing norms."
Tony Zappalà
Partner, Highland Europe
Use of funds
- 01Expand into international markets
- 02Continue product development
- 03Scale operations
- 04Invest in sales and marketing
