Carl Pei's Nothing raises $15 million funding by Google

Nothing, a new consumer technology venture by OnePlus co-founder Carl Pei, on Tuesday said it has raised USD 15 million (about ₹109.3 crore) in funding led by GV (formerly Google Ventures).

The London-based company said it also plans to open up for its community and the general public an opportunity to invest in the company as part of the series A round and more details will be announced in the coming weeks.

The new round takes the total amount of financing raised by the company to over USD 22 million (about ₹160.3 crore). Previous investors include tech leaders and investors such as Casey Neistat (YouTube personality and Beme co-founder), Twitch co-founder Kevin Lin, Reddit CEO Steve Huffman and Indian entrepreneur and CRED founder Kunal Shah.

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Nothing intends to use the proceeds from the latest funding to expand its team and operations, further invest in R&D, as well as launch its community and first products in the coming months.

"We are grateful to have a venture capital firm of this caliber help in building 'Nothing' together with us. We plan to aggressively grow the company, in particular our R&D and design capabilities, to realise our mission of removing barriers between people and technology,” Pei, Chief Executive Officer and co-founder of Nothing, said.

Last month, Nothing had said it would unveil its first smart devices in the first half of this year.

"Carl Pei is a seasoned entrepreneur with marketing, hardware, and distribution experience that is key to bringing new devices to market. His vision for smart devices is compelling, and we have high confidence that with Carl's global mindset, the Nothing team will have a meaningful impact on the market for consumer technology," Tom Hulme, General Partner at GV, said.