Consumer electronics startup Nothing has announced the successful close of its Series C funding round, raising $200 million. The round was led by Tiger Global and places the company’s valuation at $1.3 billion. Other participants in the round include GV, Highland Europe, EQT, Latitude, I2BF, Tapestry, Qualcomm Ventures, and strategic backer Nikhil Kamath. With this latest funding, Nothing’s total capital raised has crossed $450 million.
Matt Watcher, partner at Tiger Global, said: “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.”
Nothing was founded by Carl Pei, co founder of OnePlus. The company has already achieved more than $1 billion in sales this year and has shipped 5.1 million units so far. Its newest model, the Phone 3, continues the brand’s transparent design style and distinctive user interface. It also marks the company’s second smartphone to be widely distributed in the United States.
Although Nothing’s global market share is currently under 1 percent, India remains its largest and strongest market, where it holds a 2 percent share. According to IDC, 80 percent of Nothing’s shipments are concentrated in Asia. More than one million units were shipped in the second quarter of 2025 alone, reflecting the company’s steady growth even as it gradually expands in global markets.
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